Topgolf Callaway Brands Corp. (NYSE:MODG) Receives Consensus Rating of “Hold” from Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been assigned an average recommendation of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $13.91.

Several brokerages have recently issued reports on MODG. Roth Mkm reaffirmed a “buy” rating and set a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Truist Financial dropped their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their price target for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. boosted its holdings in shares of Topgolf Callaway Brands by 97.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock worth $16,919,000 after acquiring an additional 1,063,033 shares during the period. Ameriprise Financial Inc. boosted its stake in Topgolf Callaway Brands by 57.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company’s stock worth $16,401,000 after purchasing an additional 764,322 shares during the period. ExodusPoint Capital Management LP purchased a new position in Topgolf Callaway Brands during the 4th quarter valued at about $4,769,000. Claar Advisors LLC bought a new stake in shares of Topgolf Callaway Brands during the fourth quarter valued at about $4,716,000. Finally, Invesco Ltd. lifted its holdings in shares of Topgolf Callaway Brands by 41.9% in the fourth quarter. Invesco Ltd. now owns 1,591,742 shares of the company’s stock worth $12,511,000 after buying an additional 469,728 shares in the last quarter. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Up 1.1 %

Topgolf Callaway Brands stock opened at $6.61 on Tuesday. Topgolf Callaway Brands has a fifty-two week low of $5.59 and a fifty-two week high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The firm’s 50-day simple moving average is $7.07 and its 200 day simple moving average is $8.42. The stock has a market cap of $1.21 billion, a PE ratio of -82.55 and a beta of 1.70.

Topgolf Callaway Brands (NYSE:MODG) last announced its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. The firm had revenue of $924.40 million for the quarter, compared to the consensus estimate of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. Research analysts predict that Topgolf Callaway Brands will post 0.16 EPS for the current fiscal 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.