Topgolf Callaway Brands Corp. (NYSE:MODG) Given Average Rating of “Hold” by Brokerages

Topgolf Callaway Brands Corp. (NYSE:MODG) has been given a consensus rating of “Hold” by the nine research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $18.90.

Several research firms recently weighed in on MODG. KeyCorp decreased their target price on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Raymond James lifted their price objective on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th.

Insider Buying and Selling

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.79, for a total transaction of $29,994.12. Following the transaction, the director now owns 2,242 shares in the company, valued at approximately $33,159.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Erik J. Anderson sold 2,028 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.79, for a total transaction of $29,994.12. Following the transaction, the director now directly owns 2,242 shares of the company’s stock, valued at $33,159.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the completion of the sale, the director now owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Topgolf Callaway Brands by 13.6% during the fourth quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock worth $220,884,000 after purchasing an additional 1,845,864 shares during the last quarter. Sierra Summit Advisors LLC acquired a new stake in Topgolf Callaway Brands in the fourth quarter valued at approximately $213,000. Polen Capital Management LLC acquired a new position in Topgolf Callaway Brands in the 4th quarter worth about $1,874,000. Price T Rowe Associates Inc. MD raised its holdings in Topgolf Callaway Brands by 3.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 79,311 shares of the company’s stock valued at $1,138,000 after buying an additional 2,933 shares during the last quarter. Finally, Spouting Rock Asset Management LLC bought a new position in shares of Topgolf Callaway Brands during the fourth quarter valued at $412,000. Institutional investors own 82.13% of the company’s stock.

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $15.57 on Friday. The company has a market capitalization of $2.86 billion, a P/E ratio of 33.85, a price-to-earnings-growth ratio of 1.54 and a beta of 1.86. The company’s 50 day moving average price is $14.04 and its two-hundred day moving average price is $13.72. Topgolf Callaway Brands has a 52 week low of $9.84 and a 52 week high of $23.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.72.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. The business had revenue of $897.10 million for the quarter, compared to analyst estimates of $867.25 million. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.27) earnings per share. On average, analysts expect that Topgolf Callaway Brands will post 0.28 earnings per share for the current fiscal year.

About Topgolf Callaway Brands

Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology; and World Golf Tour digital golf game.