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

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have earned a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $16.00.

A number of research firms have recently commented on MODG. Morgan Stanley dropped their price objective 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. Bank of America cut their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Truist Financial decreased their target price on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Jefferies Financial Group cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $12.00 in a research report on Thursday, August 29th. Finally, TD Cowen dropped their price objective on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, September 17th.

Topgolf Callaway Brands Stock Performance

NYSE:MODG opened at $10.64 on Tuesday. Topgolf Callaway Brands has a 1-year low of $9.05 and a 1-year high of $16.89. The firm has a 50 day simple moving average of $10.73 and a 200-day simple moving average of $13.82. The firm has a market cap of $1.95 billion, a PE ratio of 28.76, a P/E/G ratio of 6.42 and a beta of 1.75. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities analysts expect that Topgolf Callaway Brands will post 0.18 EPS for the current year.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC grew its position in shares of Topgolf Callaway Brands by 4.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 58,045 shares of the company’s stock worth $832,000 after buying an additional 2,730 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Topgolf Callaway Brands by 1,662.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 126,271 shares of the company’s stock worth $1,811,000 after acquiring an additional 119,108 shares in the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Topgolf Callaway Brands in the 4th quarter worth about $1,350,000. Caas Capital Management LP acquired a new stake in shares of Topgolf Callaway Brands in the 4th quarter valued at about $148,000. Finally, Granahan Investment Management LLC lifted its position in shares of Topgolf Callaway Brands by 1.5% during the fourth quarter. Granahan Investment Management LLC now owns 1,117,187 shares of the company’s stock worth $16,020,000 after purchasing an additional 16,299 shares during the last quarter. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

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.