Topgolf Callaway Brands Corp. (NYSE:MODG) Receives Average Recommendation of “Hold” from Brokerages

Topgolf Callaway Brands Corp. (NYSE:MODG) has earned an average rating of “Hold” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $13.91.

MODG has been the subject of a number of recent analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. The Goldman Sachs Group lowered their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Truist Financial lowered their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several institutional investors and hedge funds have recently modified their holdings of MODG. Alliancebernstein L.P. boosted its position 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 buying an additional 1,063,033 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Topgolf Callaway Brands by 57.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company’s stock worth $16,401,000 after buying an additional 764,322 shares during the period. ExodusPoint Capital Management LP purchased a new stake in shares of Topgolf Callaway Brands in the fourth quarter worth about $4,769,000. LGT Capital Partners LTD. purchased a new stake in shares of Topgolf Callaway Brands in the third quarter worth about $6,588,000. Finally, Claar Advisors LLC purchased a new stake in shares of Topgolf Callaway Brands in the fourth quarter worth about $4,716,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Performance

NYSE MODG opened at $6.10 on Friday. Topgolf Callaway Brands has a fifty-two week low of $5.90 and a fifty-two week high of $16.89. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -76.18 and a beta of 1.70. The business has a fifty day moving average of $7.72 and a 200-day moving average of $8.94. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data on Monday, February 24th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. The business had revenue of $924.40 million during 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%. As a group, analysts predict that Topgolf Callaway Brands will post 0.16 earnings per share 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.