Is Callaway Golf Stock a Buy?
Golf just isn't the draw it used to be for amateur players or fans of the pros. Over the past decade, an estimated 800 U.S. golf courses have closed. After the number of regular golfers reached a peak of around 30 million in 2005, it's since declined to 24.3 million, according to the National Golf Foundation. Interest in televised PGA play has been slipping as well, with last year's final round of the PGA Championship bordering on its weakest viewership since 2001.
The trends pose a problem for several components of the industry, from course owners and equipment retailers to tournament sponsors. It's particularly problematic for Callaway Golf (NYSE: ELY), however, as it's almost entirely focused on the dying sport.
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Source Fool.com
