Topgolf Callaway Brands (NYSE:MODG) Stock Rating Reaffirmed by Roth Mkm

Topgolf Callaway Brands (NYSE:MODG)‘s stock had its “buy” rating reiterated by investment analysts at Roth Mkm in a report issued on Thursday, Benzinga reports. They currently have a $17.00 price objective on the stock. Roth Mkm’s price target would suggest a potential upside of 66.67% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. TD Cowen upped their price target on Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, May 13th. The Goldman Sachs Group reduced their price objective on Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Raymond James cut Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Finally, KeyCorp lowered shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.38.

Topgolf Callaway Brands Stock Performance

NYSE:MODG opened at $10.20 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93. The stock has a market capitalization of $1.87 billion, a PE ratio of 27.57, a P/E/G ratio of 6.62 and a beta of 1.74. Topgolf Callaway Brands has a fifty-two week low of $9.84 and a fifty-two week high of $16.89. The company has a fifty day moving average of $13.31 and a two-hundred day moving average of $14.60.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. Topgolf Callaway Brands had a net margin of 0.50% and a return on equity of 2.07%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company posted $0.39 EPS. Topgolf Callaway Brands’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, research analysts forecast that Topgolf Callaway Brands will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp raised its position in Topgolf Callaway Brands by 327.6% in the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after purchasing an additional 1,936 shares during the period. JFS Wealth Advisors LLC raised its holdings in shares of 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 valued at $65,000 after buying an additional 4,487 shares during the period. Dnca Finance acquired a new position in Topgolf Callaway Brands during the 2nd quarter worth about $134,000. Caas Capital Management LP acquired a new position in Topgolf Callaway Brands during the 4th quarter worth about $148,000. Finally, Koss Olinger Consulting LLC purchased a new position in Topgolf Callaway Brands during the 2nd quarter valued at about $160,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

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.