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

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have earned a consensus rating of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $16.67.

A number of equities research analysts have issued reports on the stock. Bank of America lowered shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $13.00 in a report on Thursday, August 8th. B. Riley boosted their price target on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. TD Cowen increased their price objective on Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Raymond James downgraded Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday. Finally, The Goldman Sachs Group cut 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.

Topgolf Callaway Brands Price Performance

MODG stock opened at $11.20 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.82. The firm has a market cap of $2.06 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.55 and a beta of 1.77. The firm’s fifty day moving average is $14.26 and its 200 day moving average is $14.87. Topgolf Callaway Brands has a 52 week low of $9.84 and a 52 week high of $17.64.

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, beating analysts’ consensus estimates of $0.28 by $0.14. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company posted $0.39 EPS. Topgolf Callaway Brands’s revenue for the quarter was down 1.9% on a year-over-year basis. Research analysts predict that Topgolf Callaway Brands will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Topgolf Callaway Brands

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its stake in shares of Topgolf Callaway Brands by 1,251.3% in the 4th quarter. International Assets Investment Management LLC now owns 23,216 shares of the company’s stock worth $333,000 after buying an additional 21,498 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Topgolf Callaway Brands in the fourth quarter worth $1,020,000. New York State Common Retirement Fund increased its holdings in shares of Topgolf Callaway Brands by 0.9% during the fourth quarter. New York State Common Retirement Fund now owns 166,700 shares of the company’s stock valued at $2,390,000 after acquiring an additional 1,406 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Topgolf Callaway Brands in the 4th quarter worth about $44,000. Finally, Grace & White Inc. NY grew its position in Topgolf Callaway Brands by 13.5% during the 4th quarter. Grace & White Inc. NY now owns 663,594 shares of the company’s stock valued at $9,516,000 after purchasing an additional 79,100 shares during the last quarter. 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.