Topgolf Callaway Brands (NYSE:MODG) Shares Down 4.2% – Should You Sell?

Topgolf Callaway Brands Corp. (NYSE:MODG) dropped 4.2% on Thursday . The company traded as low as $9.69 and last traded at $9.70. Approximately 414,488 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,503,181 shares. The stock had previously closed at $10.13.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Truist Financial cut their target price on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Bank of America cut their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Roth Mkm reissued a “buy” rating and issued a $17.00 target price on shares of Topgolf Callaway Brands in a report on Thursday, September 5th. KeyCorp cut 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 reduced their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Topgolf Callaway Brands presently has a consensus rating of “Hold” and a consensus target price of $15.31.

Topgolf Callaway Brands Stock Down 3.7 %

The company has a market cap of $1.79 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 6.42 and a beta of 1.75. The company has a fifty day moving average of $10.53 and a two-hundred day moving average of $13.56. 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 released its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.14. Topgolf Callaway Brands had a net margin of 0.50% and a return on equity of 2.07%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business earned $0.39 EPS. The business’s revenue was down 1.9% on a year-over-year basis. As a group, analysts anticipate that Topgolf Callaway Brands Corp. will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Fifth Third Bancorp lifted its stake in shares of Topgolf Callaway Brands by 327.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after acquiring an additional 1,936 shares during the last quarter. nVerses Capital LLC purchased a new stake in Topgolf Callaway Brands in the third quarter worth $133,000. Dnca Finance bought a new stake in shares of Topgolf Callaway Brands during the second quarter worth $134,000. Koss Olinger Consulting LLC purchased a new stake in shares of Topgolf Callaway Brands during the second quarter valued at $160,000. Finally, Simon Quick Advisors LLC bought a new position in shares of Topgolf Callaway Brands in the second quarter worth about $161,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

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.