Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $16.00 Average PT from Brokerages

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.00.

A number of research analysts recently weighed in on the stock. Truist Financial decreased their target price on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. KeyCorp downgraded Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. Jefferies Financial Group cut Topgolf Callaway Brands from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $12.00 in a research report on Thursday, August 29th. Raymond James lowered Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley cut their price objective on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Thursday, August 8th.

Topgolf Callaway Brands Price Performance

MODG stock opened at $9.90 on Tuesday. The stock has a market cap of $1.82 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 6.81 and a beta of 1.75. The stock has a 50-day moving average price of $10.89 and a two-hundred day moving average price of $13.93. Topgolf Callaway Brands has a 1 year low of $9.05 and a 1 year high of $16.89. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

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 analysts’ consensus estimates of $0.28 by $0.14. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. Topgolf Callaway Brands’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 EPS. Equities analysts forecast that Topgolf Callaway Brands will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several institutional investors and hedge funds have recently modified their holdings of MODG. Park Avenue Securities LLC boosted its holdings in shares of Topgolf Callaway Brands by 13.5% during the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock worth $183,000 after buying an additional 1,985 shares during the period. Truist Financial Corp lifted its position in Topgolf Callaway Brands by 63.9% during the second quarter. Truist Financial Corp now owns 45,972 shares of the company’s stock worth $703,000 after acquiring an additional 17,931 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Topgolf Callaway Brands by 888.0% during the second quarter. NewEdge Advisors LLC now owns 88,969 shares of the company’s stock worth $1,361,000 after acquiring an additional 79,964 shares during the period. Creative Planning grew its position in shares of Topgolf Callaway Brands by 6.8% in the second quarter. Creative Planning now owns 22,201 shares of the company’s stock valued at $340,000 after purchasing an additional 1,415 shares during the last quarter. Finally, Algert Global LLC bought a new position in shares of Topgolf Callaway Brands during the second quarter worth approximately $226,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.

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.