Topgolf Callaway Brands Corp. (NYSE:CALY) Given Consensus Recommendation of “Hold” by Brokerages

Topgolf Callaway Brands Corp. (NYSE:CALY) has been given an average recommendation of “Hold” by the eight research firms that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $19.8333.

Several equities research analysts recently weighed in on the company. UBS Group reduced their target price on Topgolf Callaway Brands from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, September 14th. Truist Financial lifted their price target on shares of Topgolf Callaway Brands from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. JPMorgan Chase & Co. boosted their price objective on shares of Topgolf Callaway Brands to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Zacks Research downgraded shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $23.00 target price (up from $19.00) on shares of Topgolf Callaway Brands in a research note on Wednesday, August 5th.

Insider Transactions at Topgolf Callaway Brands

In other news, EVP Glenn Hickey sold 28,843 shares of Topgolf Callaway Brands stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $18.74, for a total value of $540,517.82. Following the transaction, the executive vice president directly owned 72,239 shares in the company, valued at approximately $1,353,758.86. The trade was a 28.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Oliver Brewer, III sold 67,474 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $18.30, for a total value of $1,234,774.20. Following the transaction, the chief executive officer directly owned 201,276 shares of the company’s stock, valued at $3,683,350.80. This represents a 25.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 97,717 shares of company stock worth $1,800,492 over the last quarter. 2.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP acquired a new stake in shares of Topgolf Callaway Brands in the second quarter worth $5,243,000. Insight Wealth Partners LLC bought a new stake in Topgolf Callaway Brands in the 2nd quarter valued at $611,000. Integrated Wealth Concepts LLC bought a new stake in Topgolf Callaway Brands in the 2nd quarter valued at $31,000. NewEdge Advisors LLC acquired a new stake in Topgolf Callaway Brands in the 2nd quarter worth $113,000. Finally, Squarepoint Ops LLC acquired a new stake in Topgolf Callaway Brands in the 2nd quarter worth $3,854,000. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Price Performance

NYSE CALY opened at $14.67 on Friday. Topgolf Callaway Brands has a fifty-two week low of $8.39 and a fifty-two week high of $20.28. The stock’s 50-day moving average is $16.90 and its two-hundred day moving average is $15.97. The firm has a market cap of $2.62 billion, a P/E ratio of 34.12 and a beta of 0.93.

Topgolf Callaway Brands (NYSE:CALY) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $612.20 million during the quarter. Topgolf Callaway Brands had a return on equity of 5.86% and a net margin of 3.37%.The company’s revenue was down 44.9% on a year-over-year basis. On average, equities analysts expect that Topgolf Callaway Brands will post 0.75 EPS for the current year.

About Topgolf Callaway Brands

Topgolf Callaway Brands Corp. is a golf-focused company that combines golf equipment, apparel and footwear businesses with technology-enabled golf entertainment. Its portfolio has included Callaway golf clubs, golf balls and accessories; Odyssey putters and equipment; TravisMathew apparel and footwear; and Jack Wolfskin outdoor apparel and equipment.

The company has also operated Topgolf, a network of technologically enhanced golf entertainment venues where customers can play interactive games, receive instruction, dine and attend social or corporate events.