Topgolf Callaway Brands (NYSE:MODG) Earns Buy Rating from Roth Mkm

Topgolf Callaway Brands (NYSE:MODG)‘s stock had its “buy” rating reiterated by equities researchers at Roth Mkm in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $11.00 price target on the stock, down from their previous price target of $16.00. Roth Mkm’s price objective indicates a potential upside of 61.17% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Truist Financial lowered 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 report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group lowered their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.91.

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $6.83 on Tuesday. The company’s fifty day simple moving average is $7.89 and its 200-day simple moving average is $9.14. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.25 billion, a PE ratio of -85.30 and a beta of 1.70. Topgolf Callaway Brands has a 12 month low of $6.11 and a 12 month high of $16.89.

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

Hedge Funds Weigh In On Topgolf Callaway Brands

Several institutional investors and hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Topgolf Callaway Brands by 23.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 437,898 shares of the company’s stock valued at $3,442,000 after acquiring an additional 82,642 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of Topgolf Callaway Brands by 22.6% in the fourth quarter. Voloridge Investment Management LLC now owns 322,452 shares of the company’s stock valued at $2,534,000 after acquiring an additional 59,416 shares in the last quarter. Wexford Capital LP acquired a new position in shares of Topgolf Callaway Brands in the fourth quarter valued at about $98,000. Two Sigma Advisers LP acquired a new position in shares of Topgolf Callaway Brands in the fourth quarter valued at about $159,000. Finally, Tidal Investments LLC grew its stake in shares of Topgolf Callaway Brands by 11.6% in the fourth quarter. Tidal Investments LLC now owns 24,898 shares of the company’s stock valued at $196,000 after acquiring an additional 2,596 shares in the last quarter. 84.69% of the stock is currently 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.