Topgolf Callaway Brands (NYSE:MODG) Price Target Increased to $21.00 by Analysts at B. Riley

Topgolf Callaway Brands (NYSE:MODG) had its price objective boosted by B. Riley from $18.00 to $21.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. KeyCorp decreased their price target on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an overweight rating for the company in a research report on Wednesday, February 14th. Raymond James raised their price objective on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an outperform rating in a report on Thursday, January 4th. Tigress Financial restated a buy rating and issued a $38.00 target price on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Finally, Truist Financial increased their price target on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a buy rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $19.91.

Topgolf Callaway Brands Stock Performance

Topgolf Callaway Brands stock opened at $16.00 on Thursday. Topgolf Callaway Brands has a 12-month low of $9.84 and a 12-month high of $22.60. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 1.67 and a beta of 1.84. The firm’s fifty day moving average price is $15.34 and its 200 day moving average price is $14.00.

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

Insiders Place Their Bets

In other news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total transaction of $72,750.00. Following the sale, the director now directly owns 777,959 shares in the company, valued at approximately $11,319,303.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Erik J. Anderson sold 2,028 shares of Topgolf Callaway Brands stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the sale, the director now directly owns 2,242 shares in the company, valued at approximately $33,159.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the transaction, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of hedge funds have recently made changes to their positions in MODG. Vanguard Group Inc. increased its position in Topgolf Callaway Brands by 13.6% in the 4th quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock valued at $220,884,000 after acquiring an additional 1,845,864 shares during the period. Shapiro Capital Management LLC increased its holdings in shares of Topgolf Callaway Brands by 651.6% during the third quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company’s stock valued at $133,683,000 after purchasing an additional 8,373,946 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of Topgolf Callaway Brands by 0.7% during the third quarter. TimesSquare Capital Management LLC now owns 1,684,235 shares of the company’s stock valued at $23,310,000 after purchasing an additional 11,505 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Topgolf Callaway Brands by 11.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,577,637 shares of the company’s stock worth $22,623,000 after purchasing an additional 159,912 shares during the period. Finally, Kennedy Capital Management LLC grew its position in Topgolf Callaway Brands by 8.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,346,554 shares of the company’s stock valued at $18,636,000 after buying an additional 102,325 shares in the last quarter. Institutional investors own 84.69% of the company’s stock.

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.