Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $15.31 Consensus PT from Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have received an average rating of “Hold” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $15.31.

A number of research firms have weighed in on MODG. The Goldman Sachs Group reduced their price objective on Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Morgan Stanley cut their price target on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th. Raymond James lowered Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd. Bank of America cut their price target on 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. Finally, KeyCorp lowered Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research note on Thursday, August 8th.

Institutional Investors Weigh In On Topgolf Callaway Brands

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Topgolf Callaway Brands by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after purchasing an additional 81,021 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 acquiring an additional 1,549,222 shares during the last quarter. Leonard Green & Partners L.P. acquired a new position in Topgolf Callaway Brands in the second quarter valued at approximately $97,173,000. American Century Companies Inc. lifted its holdings in Topgolf Callaway Brands by 60.8% in the second quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock valued at $48,634,000 after acquiring an additional 1,202,347 shares during the last quarter. Finally, Bwcp LP lifted its holdings in Topgolf Callaway Brands by 20.3% in the second quarter. Bwcp LP now owns 1,853,048 shares of the company’s stock valued at $28,352,000 after acquiring an additional 312,836 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Trading Down 3.7 %

Shares of NYSE MODG opened at $9.69 on Friday. The business’s 50 day moving average price is $10.25 and its 200-day moving average price is $13.16. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 96.91, a PEG ratio of 6.29 and a beta of 1.75. Topgolf Callaway Brands has a fifty-two week low of $9.05 and a fifty-two week high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93.

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