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

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been assigned an average rating of “Hold” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $13.91.

MODG has been the subject of a number of recent analyst reports. 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. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. Roth Mkm restated a “buy” rating and set a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered 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 research note on Thursday, January 23rd.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. increased its position in shares of Topgolf Callaway Brands by 97.6% during 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 in the last quarter. Ameriprise Financial Inc. increased its holdings in Topgolf Callaway Brands by 57.8% during 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 in the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Topgolf Callaway Brands in the fourth quarter worth approximately $4,769,000. Claar Advisors LLC bought a new position in shares of Topgolf Callaway Brands in the fourth quarter valued at approximately $4,716,000. Finally, Invesco Ltd. boosted its position in shares of Topgolf Callaway Brands by 41.9% during the fourth quarter. Invesco Ltd. now owns 1,591,742 shares of the company’s stock valued at $12,511,000 after buying an additional 469,728 shares during the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Performance

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

Topgolf Callaway Brands (NYSE:MODG) last posted 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. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The company had revenue of $924.40 million for the quarter, compared to analyst estimates of $1.13 billion. As a group, research analysts forecast that Topgolf Callaway Brands will post 0.16 earnings per share for the current 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.