Topgolf Callaway Brands’ (MODG) “Buy” Rating Reaffirmed at Roth Mkm

Roth Mkm reissued their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $11.00 price target on the stock, down from their previous price target of $16.00.

MODG has been the topic of several other research reports. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. The Goldman Sachs Group decreased their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. JPMorgan Chase & Co. decreased their price objective on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Finally, Truist Financial decreased their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.91.

Topgolf Callaway Brands Stock Down 0.5 %

MODG stock opened at $6.67 on Tuesday. Topgolf Callaway Brands has a fifty-two week low of $6.11 and a fifty-two week high of $16.89. The business’s 50-day moving average is $7.91 and its two-hundred day moving average is $9.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -83.30 and a beta of 1.70.

Topgolf Callaway Brands (NYSE:MODG) last posted its 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 company had revenue of $924.40 million for the quarter, compared to the consensus estimate of $1.13 billion. As a group, analysts forecast that Topgolf Callaway Brands will post 0.16 earnings per share for the current year.

Institutional Trading of Topgolf Callaway Brands

Several institutional investors have recently made changes to their positions in MODG. Alliancebernstein L.P. grew its position in shares of Topgolf Callaway Brands by 97.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock worth $16,919,000 after purchasing an additional 1,063,033 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Topgolf Callaway Brands by 115.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after buying an additional 881,535 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Topgolf Callaway Brands by 57.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company’s stock valued at $16,401,000 after buying an additional 764,322 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in Topgolf Callaway Brands during the 4th quarter valued at approximately $4,769,000. Finally, LGT Capital Partners LTD. purchased a new position in Topgolf Callaway Brands during the 3rd quarter valued at approximately $6,588,000. 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.