TD Cowen Lowers Topgolf Callaway Brands (NYSE:MODG) Price Target to $10.00

Topgolf Callaway Brands (NYSE:MODG) had its price objective dropped by analysts at TD Cowen from $13.00 to $10.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target indicates a potential downside of 5.70% from the stock’s previous close.

MODG has been the subject of a number of other reports. Truist Financial lowered their price target on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 8th. KeyCorp lowered shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. Morgan Stanley decreased 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. Raymond James lowered shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Finally, Bank of America decreased their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Two investment 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 MarketBeat, the company has an average rating of “Hold” and an average target price of $16.00.

Topgolf Callaway Brands Price Performance

MODG stock opened at $10.61 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. Topgolf Callaway Brands has a one year low of $9.05 and a one year high of $16.89. The stock has a market cap of $1.95 billion, a PE ratio of 28.66, a P/E/G ratio of 6.08 and a beta of 1.74. The firm has a 50 day simple moving average of $12.56 and a two-hundred day simple moving average of $14.36.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) 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 company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company earned $0.39 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. On average, analysts predict that Topgolf Callaway Brands will post 0.18 EPS for the current fiscal year.

Institutional Trading of Topgolf Callaway Brands

Several institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in shares of Topgolf Callaway Brands by 327.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after acquiring an additional 1,936 shares during the last quarter. Dnca Finance purchased a new stake in shares of Topgolf Callaway Brands during the 2nd quarter valued at about $134,000. Caas Capital Management LP purchased a new stake in shares of Topgolf Callaway Brands during the 4th quarter valued at about $148,000. Koss Olinger Consulting LLC purchased a new stake in shares of Topgolf Callaway Brands during the 2nd quarter valued at about $160,000. Finally, Simon Quick Advisors LLC purchased a new stake in shares of Topgolf Callaway Brands during the 2nd quarter valued at about $161,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

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.