Topgolf Callaway Brands Corp. (NYSE:MODG – Get Free Report)’s share price gapped up prior to trading on Thursday after Bank of America raised their price target on the stock from $13.00 to $14.00. The stock had previously closed at $10.76, but opened at $11.39. Bank of America currently has a neutral rating on the stock. Topgolf Callaway Brands shares last traded at $10.90, with a volume of 1,211,321 shares trading hands.
A number of other analysts have also recently weighed in on MODG. KeyCorp cut shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. The Goldman Sachs Group dropped their price objective on shares of Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group downgraded Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. Truist Financial dropped their price target on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Morgan Stanley lowered their price objective on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Topgolf Callaway Brands presently has an average rating of “Hold” and an average price target of $16.38.
View Our Latest Research Report on MODG
Hedge Funds Weigh In On Topgolf Callaway Brands
Topgolf Callaway Brands Stock Performance
The company has a fifty day moving average price of $13.31 and a two-hundred day moving average price of $14.60. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 6.62 and a beta of 1.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15.
Topgolf Callaway Brands (NYSE:MODG – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. Topgolf Callaway Brands had a net margin of 0.50% and a return on equity of 2.07%. Topgolf Callaway Brands’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS. As a group, equities research analysts expect that Topgolf Callaway Brands Corp. will post 0.18 EPS for the current year.
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.
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