Topgolf Callaway Brands (NYSE:MODG) Reaches New 1-Year Low – Time to Sell?

Topgolf Callaway Brands Corp. (NYSE:MODG) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $5.46 and last traded at $5.57, with a volume of 637816 shares changing hands. The stock had previously closed at $6.02.

Wall Street Analysts Forecast Growth

MODG has been the topic of several research analyst reports. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their target price for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Truist Financial lowered their price objective on shares of 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. Roth Mkm restated a “buy” rating and issued a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.91.

Topgolf Callaway Brands Stock Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The firm has a market capitalization of $1.15 billion, a PE ratio of -78.18 and a beta of 1.47. The firm has a fifty day moving average price of $6.92 and a 200 day moving average price of $8.33.

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

Institutional Trading of Topgolf Callaway Brands

Several large investors have recently added to or reduced their stakes in MODG. Vanguard Group Inc. boosted its position in shares of Topgolf Callaway Brands by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 15,860,996 shares of the company’s stock worth $124,667,000 after buying an additional 224,578 shares during the period. Shapiro Capital Management LLC boosted its position in Topgolf Callaway Brands by 3.6% during the 4th quarter. Shapiro Capital Management LLC now owns 10,520,632 shares of the company’s stock worth $82,692,000 after acquiring an additional 366,192 shares during the period. Geode Capital Management LLC grew its stake in Topgolf Callaway Brands by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock valued at $35,749,000 after acquiring an additional 22,003 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Topgolf Callaway Brands by 14.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company’s stock valued at $17,974,000 after purchasing an additional 291,052 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Topgolf Callaway Brands by 97.6% in 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. 84.69% of the stock is owned by institutional investors and hedge funds.

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.