Brokerages Set Topgolf Callaway Brands Corp. (NYSE:MODG) PT at $20.64

Topgolf Callaway Brands Corp. (NYSE:MODG) has earned an average rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $20.64.

A number of brokerages have recently issued reports on MODG. Tigress Financial reissued a “buy” rating and issued a $38.00 target price on shares of Topgolf Callaway Brands in a report on Friday, April 12th. KeyCorp reduced their price target on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Finally, Raymond James lifted their target price on Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th.

Insider Buying and Selling at Topgolf Callaway Brands

In other news, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the transaction, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the completion of the sale, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Erik J. Anderson sold 2,028 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.79, for a total transaction of $29,994.12. Following the transaction, the director now directly owns 2,242 shares of the company’s stock, valued at $33,159.18. The disclosure for this sale can be found here. Corporate insiders own 11.97% of the company’s stock.

Institutional Investors Weigh In On Topgolf Callaway Brands

Institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC boosted its position in Topgolf Callaway Brands by 1.3% in the 4th quarter. Voya Investment Management LLC now owns 57,710 shares of the company’s stock valued at $828,000 after buying an additional 713 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Topgolf Callaway Brands by 2.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 38,792 shares of the company’s stock valued at $537,000 after purchasing an additional 1,010 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Topgolf Callaway Brands in the 1st quarter valued at about $29,000. Advisory Services Network LLC bought a new stake in shares of Topgolf Callaway Brands in the 1st quarter valued at about $30,000. Finally, Creative Planning raised its holdings in shares of Topgolf Callaway Brands by 10.0% in the 3rd quarter. Creative Planning now owns 15,350 shares of the company’s stock valued at $212,000 after purchasing an additional 1,390 shares in the last quarter. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

Shares of MODG opened at $15.41 on Tuesday. Topgolf Callaway Brands has a 52 week low of $9.84 and a 52 week high of $23.01. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 1.66 and a beta of 1.87. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average of $15.00 and a 200-day moving average of $13.80.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The company had revenue of $897.10 million for the quarter, compared to the consensus estimate of $867.25 million. During the same quarter in the previous year, the business earned ($0.27) EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts forecast that Topgolf Callaway Brands will post 0.29 EPS for the current year.

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.