Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $16.23 Average PT from Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been given an average recommendation of “Hold” by the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $16.23.

Several brokerages have issued reports on MODG. Truist Financial cut their price target on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group reduced their price target on shares of Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. KeyCorp downgraded shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. Morgan Stanley reduced their price objective on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Thursday, August 8th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $17.00 price target on shares of Topgolf Callaway Brands in a research report on Thursday, September 5th.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several large investors have recently made changes to their positions in MODG. Leonard Green & Partners L.P. purchased a new stake in shares of Topgolf Callaway Brands during the 2nd quarter worth approximately $97,173,000. Vanguard Group Inc. increased its position in Topgolf Callaway Brands by 13.6% in the fourth quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock worth $220,884,000 after buying an additional 1,845,864 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Topgolf Callaway Brands by 21.8% in the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock valued at $132,296,000 after buying an additional 1,549,222 shares during the period. American Century Companies Inc. lifted its position in shares of Topgolf Callaway Brands by 60.8% during the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock valued at $48,634,000 after buying an additional 1,202,347 shares during the last quarter. Finally, Granite Investment Partners LLC bought a new position in shares of Topgolf Callaway Brands during the 2nd quarter worth $13,757,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Stock Performance

NYSE:MODG opened at $10.20 on Friday. The firm has a market capitalization of $1.87 billion, a P/E ratio of 27.57, a P/E/G ratio of 6.08 and a beta of 1.74. Topgolf Callaway Brands has a twelve month low of $9.05 and a twelve month high of $16.89. The company has a fifty day moving average of $12.79 and a 200-day moving average of $14.45. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

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