Topgolf Callaway Brands (NYSE:MODG) Sets New 12-Month Low – What’s Next?

Topgolf Callaway Brands Corp. (NYSE:MODG) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.80 and last traded at $5.69, with a volume of 389291 shares trading hands. The stock had previously closed at $5.98.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Roth Mkm reaffirmed a “buy” rating and set a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. The Goldman Sachs Group reduced their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their price target for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, Truist Financial reduced their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Topgolf Callaway Brands has a consensus rating of “Hold” and an average target price of $13.91.

Topgolf Callaway Brands Trading Up 8.4 %

The business has a 50 day moving average of $7.58 and a two-hundred day moving average of $8.77. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.13 billion, a P/E ratio of -76.80 and a beta of 1.70.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The business had revenue of $924.40 million for the quarter, compared to analysts’ expectations of $1.13 billion. Analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Augustine Asset Management Inc. increased its position in Topgolf Callaway Brands by 7.4% during the 4th quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company’s stock worth $172,000 after buying an additional 1,500 shares during the period. MetLife Investment Management LLC increased its position in Topgolf Callaway Brands by 2.9% during the 4th quarter. MetLife Investment Management LLC now owns 82,820 shares of the company’s stock worth $651,000 after buying an additional 2,303 shares during the period. Tidal Investments LLC increased its position in Topgolf Callaway Brands by 11.6% during the 4th quarter. Tidal Investments LLC now owns 24,898 shares of the company’s stock worth $196,000 after buying an additional 2,596 shares during the period. Crossmark Global Holdings Inc. increased its position in Topgolf Callaway Brands by 7.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company’s stock worth $293,000 after buying an additional 2,712 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Topgolf Callaway Brands by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,716 shares of the company’s stock worth $634,000 after buying an additional 3,084 shares during the period. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Company Profile

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.