Topgolf Callaway Brands (NYSE:MODG) Hits New 12-Month High – Time to Buy?

Topgolf Callaway Brands Corp. (NYSE:MODG) shares reached a new 52-week high during trading on Friday . The stock traded as high as $11.60 and last traded at $11.2170, with a volume of 4863270 shares traded. The stock had previously closed at $10.58.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MODG shares. JPMorgan Chase & Co. upped their price objective on Topgolf Callaway Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday. Zacks Research cut shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Morgan Stanley initiated coverage on Topgolf Callaway Brands in a report on Friday, July 18th. They issued an “equal weight” rating and a $9.50 price objective on the stock. Truist Financial lifted their target price on Topgolf Callaway Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, UBS Group started coverage on shares of Topgolf Callaway Brands in a report on Friday, October 17th. They issued a “neutral” rating and a $10.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Topgolf Callaway Brands has a consensus rating of “Hold” and a consensus price target of $10.69.

Topgolf Callaway Brands Trading Up 7.0%

The company has a quick ratio of 1.25, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $9.50 and a 200-day moving average price of $8.67. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -1.40 and a beta of 1.19.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.16. Topgolf Callaway Brands had a negative net margin of 36.08% and a positive return on equity of 0.37%. The firm had revenue of $465.30 million during the quarter, compared to analysts’ expectations of $903.96 million. During the same period in the prior year, the company earned $0.02 EPS. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. Topgolf Callaway Brands has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts predict that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Institutional Trading of Topgolf Callaway Brands

Several hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas bought a new position in shares of Topgolf Callaway Brands in the first quarter valued at approximately $133,000. Principal Financial Group Inc. raised its position in shares of Topgolf Callaway Brands by 2.7% during the first quarter. Principal Financial Group Inc. now owns 704,970 shares of the company’s stock worth $4,646,000 after acquiring an additional 18,490 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Topgolf Callaway Brands by 48.5% in the 1st quarter. Cerity Partners LLC now owns 16,177 shares of the company’s stock valued at $107,000 after purchasing an additional 5,286 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Topgolf Callaway Brands during the 1st quarter worth $685,000. Finally, TAGStone Capital Inc. bought a new stake in shares of Topgolf Callaway Brands during the 1st quarter valued at $90,000. Institutional investors and hedge funds 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.