Topgolf Callaway Brands Corp. (NYSE:MODG) Given Average Rating of “Hold” by Analysts

Topgolf Callaway Brands Corp. (NYSE:MODG) has received a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $19.33.

Several research firms recently issued reports on MODG. Truist Financial lifted their price target on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Tigress Financial reissued a “buy” rating and set a $38.00 target price on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. B. Riley boosted their target price on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, TD Cowen boosted their target price on shares of Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a “hold” rating in a research note on Monday, May 13th.

Insiders Place Their Bets

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total value of $115,275.00. Following the completion of the sale, the director now directly owns 760,459 shares of the company’s stock, valued at $11,688,254.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Erik J. Anderson sold 10,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $15.19, for a total transaction of $151,900.00. Following the completion of the transaction, the director now directly owns 767,959 shares in the company, valued at approximately $11,665,297.21. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Erik J. Anderson sold 7,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total transaction of $115,275.00. Following the transaction, the director now owns 760,459 shares of the company’s stock, valued at $11,688,254.83. The disclosure for this sale can be found here. Insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On Topgolf Callaway Brands

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in shares of Topgolf Callaway Brands in the 4th quarter valued at $44,000. JFS Wealth Advisors LLC grew its holdings in shares of Topgolf Callaway Brands by 6,063.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 4,561 shares of the company’s stock worth $65,000 after purchasing an additional 4,487 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Topgolf Callaway Brands by 151.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock worth $100,000 after purchasing an additional 4,362 shares during the last quarter. Caas Capital Management LP bought a new stake in shares of Topgolf Callaway Brands in the 4th quarter worth about $148,000. Finally, Oak Thistle LLC bought a new stake in shares of Topgolf Callaway Brands in the 4th quarter worth about $150,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Stock Performance

NYSE MODG opened at $15.00 on Friday. The company has a fifty day moving average of $15.38 and a two-hundred day moving average of $14.88. Topgolf Callaway Brands has a 1 year low of $9.84 and a 1 year high of $20.75. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.82 and a quick ratio of 1.02. The company has a market capitalization of $2.75 billion, a PE ratio of 40.54, a P/E/G ratio of 2.47 and a beta of 1.77.

Topgolf Callaway Brands (NYSE:MODG) last issued its earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Topgolf Callaway Brands had a net margin of 1.80% and a return on equity of 1.93%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. As a group, analysts expect that Topgolf Callaway Brands will post 0.34 earnings per share for the current year.

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.