Topgolf Callaway Brands (NYSE:MODG) Price Target Lowered to $10.00 at TD Cowen

Topgolf Callaway Brands (NYSE:MODG) had its price objective decreased by analysts at TD Cowen from $13.00 to $10.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective indicates a potential downside of 3.85% from the company’s previous close.

MODG has been the subject of a number of other reports. Morgan Stanley cut their target price 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. The Goldman Sachs Group lowered their price target on shares of Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Roth Mkm reaffirmed a “buy” rating and set a $17.00 price objective on shares of Topgolf Callaway Brands in a report on Thursday, September 5th. Raymond James cut shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd. Finally, Bank of America dropped their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.00.

Topgolf Callaway Brands Trading Up 2.0 %

Shares of Topgolf Callaway Brands stock opened at $10.40 on Tuesday. The company’s fifty day simple moving average is $12.70 and its 200-day simple moving average is $14.42. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 6.08 and a beta of 1.74. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands has a 1 year low of $9.05 and a 1 year high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.39 earnings per share. As a group, sell-side analysts expect that Topgolf Callaway Brands will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MODG. UniSuper Management Pty Ltd acquired a new position in shares of Topgolf Callaway Brands in the 1st quarter valued at $643,000. Polen Capital Management LLC bought a new stake in shares of Topgolf Callaway Brands in the 4th quarter valued at $1,874,000. GM Advisory Group LLC raised its stake in Topgolf Callaway Brands by 29.9% during the 4th quarter. GM Advisory Group LLC now owns 72,300 shares of the company’s stock worth $1,037,000 after buying an additional 16,635 shares during the period. Principal Financial Group Inc. lifted its holdings in Topgolf Callaway Brands by 37.9% during the fourth quarter. Principal Financial Group Inc. now owns 740,736 shares of the company’s stock worth $10,622,000 after acquiring an additional 203,481 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new position in Topgolf Callaway Brands in the first quarter valued at about $1,360,000. Institutional investors own 84.69% of the company’s stock.

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.