Topgolf Callaway Brands’ (MODG) Buy Rating Reiterated at Roth Mkm

Roth Mkm restated their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG) in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a $17.00 target price on the stock.

A number of other equities research analysts have also issued reports on the company. TD Cowen increased their target price on Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a hold rating in a research note on Monday, May 13th. Raymond James lowered shares of Topgolf Callaway Brands from an outperform rating to an underperform rating in a research note on Friday, August 23rd. Morgan Stanley reduced their target price on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an underweight rating on the stock in a research report on Thursday, August 8th. Bank of America lowered shares of Topgolf Callaway Brands from a buy rating to a neutral rating and lowered their price target for the company from $18.00 to $13.00 in a report on Thursday, August 8th. Finally, Truist Financial cut their price objective on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a buy rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $16.38.

Topgolf Callaway Brands Trading Down 3.8 %

Shares of MODG stock opened at $10.20 on Thursday. Topgolf Callaway Brands has a fifty-two week low of $9.84 and a fifty-two week high of $16.89. The firm’s 50 day moving average price is $13.31 and its two-hundred day moving average price is $14.60. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 6.62 and a beta of 1.74. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14. Topgolf Callaway Brands had a net margin of 0.50% and a return on equity of 2.07%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $0.39 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. On average, analysts anticipate that Topgolf Callaway Brands will post 0.18 EPS for the current year.

Institutional Trading of Topgolf Callaway Brands

Hedge funds and other institutional investors have recently bought and sold shares of the company. UniSuper Management Pty Ltd acquired a new position in shares of Topgolf Callaway Brands in the 1st quarter worth approximately $643,000. Polen Capital Management LLC bought a new stake in Topgolf Callaway Brands during the fourth quarter valued at $1,874,000. GM Advisory Group LLC raised its holdings in shares of Topgolf Callaway Brands by 29.9% during the fourth quarter. GM Advisory Group LLC now owns 72,300 shares of the company’s stock worth $1,037,000 after purchasing an additional 16,635 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Topgolf Callaway Brands by 37.9% during the fourth quarter. Principal Financial Group Inc. now owns 740,736 shares of the company’s stock worth $10,622,000 after purchasing an additional 203,481 shares during the period. Finally, Illinois Municipal Retirement Fund bought a new position in shares of Topgolf Callaway Brands in the 1st quarter worth about $1,360,000. 84.69% of the stock is owned by institutional investors.

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.