Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $13.91 Consensus Price Target from Brokerages

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have received an average recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $13.91.

Several analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their price target for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Roth Mkm restated a “buy” rating and issued a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. The Goldman Sachs Group decreased their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Truist Financial decreased their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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.

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in MODG. Charles Schwab Investment Management Inc. lifted its holdings in Topgolf Callaway Brands by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock valued at $21,912,000 after purchasing an additional 148,451 shares during the last quarter. Thompson Investment Management Inc. lifted its holdings in Topgolf Callaway Brands by 11.1% during the 4th quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company’s stock valued at $2,848,000 after purchasing an additional 36,201 shares during the last quarter. PDT Partners LLC bought a new position in Topgolf Callaway Brands during the 3rd quarter valued at about $1,934,000. Empowered Funds LLC bought a new position in Topgolf Callaway Brands during the 3rd quarter valued at about $3,396,000. Finally, Requisite Capital Management LLC bought a new position in Topgolf Callaway Brands during the 4th quarter valued at about $2,426,000. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Stock Performance

NYSE:MODG opened at $5.69 on Friday. Topgolf Callaway Brands has a 1 year low of $5.59 and a 1 year high of $16.89. The firm’s fifty day simple moving average is $7.62 and its 200 day simple moving average is $8.79. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $1.05 billion, a PE ratio of -71.05 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The business had revenue of $924.40 million for the quarter, compared to analyst estimates of $1.13 billion. On average, sell-side analysts anticipate that Topgolf Callaway Brands will post 0.16 EPS 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.