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

Topgolf Callaway Brands Corp. (NYSE:MODG) has been assigned an average rating of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $15.31.

Several analysts have commented on MODG shares. Raymond James cut Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Truist Financial decreased their target price on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Roth Mkm reiterated a “buy” rating and set a $17.00 target price on shares of Topgolf Callaway Brands in a report on Thursday, September 5th. Bank of America decreased their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, Jefferies Financial Group cut Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $12.00 in a report on Thursday, August 29th.

Topgolf Callaway Brands Stock Up 0.8 %

MODG opened at $9.79 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 97.91, a price-to-earnings-growth ratio of 6.29 and a beta of 1.75. The business has a 50-day moving average of $10.29 and a two-hundred day moving average of $13.27. Topgolf Callaway Brands has a 12 month low of $9.05 and a 12 month high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.28 by $0.14. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. On average, research analysts expect that Topgolf Callaway Brands will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Resource Council boosted its holdings in shares of Topgolf Callaway Brands by 111.3% in the 3rd quarter. Advisor Resource Council now owns 32,589 shares of the company’s stock valued at $358,000 after buying an additional 17,164 shares during the period. Lansing Street Advisors bought a new position in Topgolf Callaway Brands in the third quarter worth about $187,000. Harbor Capital Advisors Inc. boosted its stake in Topgolf Callaway Brands by 115.5% in the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after acquiring an additional 881,535 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Topgolf Callaway Brands during the third quarter valued at approximately $482,000. Finally, International Assets Investment Management LLC raised its position in shares of Topgolf Callaway Brands by 998.0% during the 3rd quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock worth $165,000 after purchasing an additional 13,663 shares during the period. 84.69% of the stock is owned by institutional investors and hedge funds.

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.