Topgolf Callaway Brands Corp. (NYSE:MODG) Given Consensus Recommendation of “Hold” by Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been given a consensus recommendation of “Hold” by the eleven research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $19.33.

Several research analysts have issued reports on MODG shares. B. Riley lifted their price target on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Truist Financial lifted 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. TD Cowen lifted their price target on shares of Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Finally, Tigress Financial restated a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a research report on Friday, April 12th.

Topgolf Callaway Brands Price Performance

Shares of NYSE:MODG opened at $15.30 on Friday. Topgolf Callaway Brands has a 12 month low of $9.84 and a 12 month high of $20.75. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 2.55 and a beta of 1.80. The stock’s 50 day moving average price is $15.46 and its 200 day moving average price is $14.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.82 and a quick ratio of 1.02.

Topgolf Callaway Brands (NYSE:MODG) last announced its earnings results on Wednesday, May 8th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.01 by $0.08. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company earned $0.17 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts anticipate that Topgolf Callaway Brands will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 10,000 shares of Topgolf Callaway Brands stock in a transaction on Friday, May 10th. The shares were sold at an average price of $15.19, for a total transaction of $151,900.00. Following the completion of the sale, the director now owns 767,959 shares of the company’s stock, valued at approximately $11,665,297.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Erik J. Anderson sold 10,000 shares of Topgolf Callaway Brands stock in a transaction on Friday, May 10th. The shares were sold at an average price of $15.19, for a total value of $151,900.00. Following the completion of the sale, the director now owns 767,959 shares of the company’s stock, valued at approximately $11,665,297.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Erik J. Anderson sold 7,500 shares of Topgolf Callaway Brands stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total transaction of $115,275.00. Following the completion of the sale, the director now directly owns 760,459 shares of the company’s stock, valued at approximately $11,688,254.83. The disclosure for this sale can be found here. Company insiders own 2.49% of the company’s stock.

Institutional Investors Weigh In On Topgolf Callaway Brands

Institutional investors and hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund lifted its position in Topgolf Callaway Brands by 0.9% during the 4th quarter. New York State Common Retirement Fund now owns 166,700 shares of the company’s stock worth $2,390,000 after acquiring an additional 1,406 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Topgolf Callaway Brands by 16.5% during the 4th quarter. Benjamin Edwards Inc. now owns 10,983 shares of the company’s stock worth $157,000 after acquiring an additional 1,555 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in Topgolf Callaway Brands by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 124,043 shares of the company’s stock worth $2,006,000 after acquiring an additional 1,633 shares during the last quarter. Blair William & Co. IL lifted its position in Topgolf Callaway Brands by 2.0% during the 1st quarter. Blair William & Co. IL now owns 96,389 shares of the company’s stock worth $1,559,000 after acquiring an additional 1,899 shares during the last quarter. Finally, US Bancorp DE lifted its position in Topgolf Callaway Brands by 1.4% during the 1st quarter. US Bancorp DE now owns 137,187 shares of the company’s stock worth $2,218,000 after acquiring an additional 1,922 shares during the last quarter. Institutional investors and hedge funds 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.