Topgolf Callaway Brands (NYSE:CALY) Hits New 52-Week High – Should You Buy?

Topgolf Callaway Brands Corp. (NYSE:CALY) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $19.60 and last traded at $19.6520, with a volume of 148680 shares traded. The stock had previously closed at $18.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CALY shares. Weiss Ratings raised shares of Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. UBS Group boosted their price target on shares of Topgolf Callaway Brands from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Wall Street Zen raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Truist Financial raised their target price on shares of Topgolf Callaway Brands to $19.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

Topgolf Callaway Brands Trading Up 3.0%

The company has a current ratio of 2.28, a quick ratio of 1.44 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $16.76. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 139.57 and a beta of 0.92.

Topgolf Callaway Brands (NYSE:CALY) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.14. Topgolf Callaway Brands had a net margin of 1.05% and a return on equity of 4.44%. Topgolf Callaway Brands’s revenue was down 37.1% compared to the same quarter last year. As a group, equities analysts predict that Topgolf Callaway Brands Corp. will post 0.75 earnings per share for the current year.

About Topgolf Callaway Brands

Topgolf Callaway Brands plc (NYSE: MODG) is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.