Analysts Set Topgolf Callaway Brands Corp. (NYSE:MODG) PT at $16.23

Topgolf Callaway Brands Corp. (NYSE:MODG) has been assigned a consensus rating of “Hold” from the thirteen research firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $16.00.

A number of equities analysts have recently commented on the company. TD Cowen cut their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday. Raymond James lowered shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Truist Financial decreased their price objective on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. KeyCorp downgraded shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley lowered their price target on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Thursday, August 8th.

Institutional Trading of Topgolf Callaway Brands

Several institutional investors have recently added to or reduced their stakes in MODG. Louisiana State Employees Retirement System raised its stake in Topgolf Callaway Brands by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company’s stock valued at $1,088,000 after buying an additional 700 shares in the last quarter. Creative Planning increased its holdings in shares of Topgolf Callaway Brands by 6.8% in the 2nd quarter. Creative Planning now owns 22,201 shares of the company’s stock valued at $340,000 after acquiring an additional 1,415 shares during the last quarter. Texas Permanent School Fund Corp raised its position in shares of Topgolf Callaway Brands by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 124,043 shares of the company’s stock valued at $2,006,000 after acquiring an additional 1,633 shares in the last quarter. SG Americas Securities LLC lifted its stake in Topgolf Callaway Brands by 5.2% during the second quarter. SG Americas Securities LLC now owns 36,961 shares of the company’s stock worth $566,000 after purchasing an additional 1,819 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Topgolf Callaway Brands by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock worth $1,200,000 after purchasing an additional 1,888 shares during the period. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Price Performance

MODG opened at $10.27 on Friday. Topgolf Callaway Brands has a 1 year low of $9.05 and a 1 year high of $16.89. The company’s 50 day simple moving average is $12.63 and its 200 day simple moving average is $14.39. The stock has a market capitalization of $1.89 billion, a PE ratio of 27.76, a P/E/G ratio of 6.08 and a beta of 1.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93.

Topgolf Callaway Brands (NYSE:MODG) last announced 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 for the quarter, compared to analyst estimates 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 for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. As a group, sell-side analysts expect that Topgolf Callaway Brands 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.