Topgolf Callaway Brands Corp. (NYSE:MODG) Receives Consensus Rating of “Hold” from Analysts

Topgolf Callaway Brands Corp. (NYSE:MODG) has been assigned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $16.67.

A number of equities analysts recently commented on the company. Raymond James lowered Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday. TD Cowen boosted their target price on Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Morgan Stanley lowered their price objective 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. Truist Financial dropped their target price on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, The Goldman Sachs Group dropped 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 research report on Friday, August 9th.

Topgolf Callaway Brands Stock Performance

NYSE:MODG opened at $11.20 on Monday. The stock’s 50-day moving average is $14.34 and its 200-day moving average is $14.87. Topgolf Callaway Brands has a 1-year low of $9.84 and a 1-year high of $17.64. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2.06 billion, a P/E ratio of 30.27, a price-to-earnings-growth ratio of 2.55 and a beta of 1.77.

Topgolf Callaway Brands (NYSE:MODG) last posted 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 firm 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 1.80% and a return on equity of 1.93%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. Equities research analysts anticipate that Topgolf Callaway Brands will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MODG. Truist Financial Corp increased its stake in Topgolf Callaway Brands by 63.9% in the second quarter. Truist Financial Corp now owns 45,972 shares of the company’s stock valued at $703,000 after acquiring an additional 17,931 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Topgolf Callaway Brands by 888.0% in the second quarter. NewEdge Advisors LLC now owns 88,969 shares of the company’s stock worth $1,361,000 after buying an additional 79,964 shares in the last quarter. Creative Planning boosted its stake in Topgolf Callaway Brands by 6.8% in the second quarter. Creative Planning now owns 22,201 shares of the company’s stock worth $340,000 after buying an additional 1,415 shares in the last quarter. Algert Global LLC purchased a new position in shares of Topgolf Callaway Brands during the second quarter worth approximately $226,000. Finally, Leonard Green & Partners L.P. purchased a new position in shares of Topgolf Callaway Brands in the second quarter worth about $97,173,000. 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.