Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $19.33 Average Price Target from Analysts

Topgolf Callaway Brands Corp. (NYSE:MODG) has received a consensus recommendation of “Hold” from the eleven analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.33.

A number of research analysts have recently weighed in on the stock. B. Riley raised their price objective on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Truist Financial lifted their target price on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Tigress Financial reaffirmed a “buy” rating and issued a $38.00 target price on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Finally, TD Cowen lifted their target price on shares of Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, May 13th.

Insider Activity

In other news, Director Erik J. Anderson sold 7,500 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total transaction of $115,275.00. Following the completion of the sale, the director now directly owns 760,459 shares of the company’s stock, valued at approximately $11,688,254.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Erik J. Anderson sold 10,000 shares of Topgolf Callaway Brands stock in a transaction on Friday, May 10th. The shares were sold at an average price of $15.19, for a total transaction of $151,900.00. Following the transaction, the director now owns 767,959 shares in the company, valued at approximately $11,665,297.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erik J. Anderson sold 7,500 shares of Topgolf Callaway Brands stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total transaction of $115,275.00. Following the transaction, the director now owns 760,459 shares in the company, valued at approximately $11,688,254.83. The disclosure for this sale can be found here. Corporate insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On Topgolf Callaway Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new position in shares of Topgolf Callaway Brands during the 4th quarter valued at $44,000. JFS Wealth Advisors LLC lifted its holdings in Topgolf Callaway Brands by 6,063.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 4,561 shares of the company’s stock worth $65,000 after buying an additional 4,487 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Topgolf Callaway Brands by 151.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock worth $100,000 after buying an additional 4,362 shares in the last quarter. Caas Capital Management LP acquired a new position in Topgolf Callaway Brands in the 4th quarter worth $148,000. Finally, Oak Thistle LLC acquired a new position in Topgolf Callaway Brands in the 4th quarter worth $150,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Trading Down 0.7 %

Shares of MODG opened at $14.90 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.82 and a quick ratio of 1.02. The firm has a 50 day simple moving average of $15.42 and a 200-day simple moving average of $14.88. Topgolf Callaway Brands has a 1-year low of $9.84 and a 1-year high of $20.75. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 2.53 and a beta of 1.77.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. Topgolf Callaway Brands had a net margin of 1.80% and a return on equity of 1.93%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the company posted $0.17 EPS. The company’s revenue was down 2.0% on a year-over-year basis. Equities analysts forecast that Topgolf Callaway Brands will post 0.34 EPS for the current fiscal year.

Topgolf Callaway Brands Company Profile

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.