Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $20.64 Consensus Price Target from Brokerages

Topgolf Callaway Brands Corp. (NYSE:MODG) has been given an average rating of “Moderate Buy” by the ten brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $20.64.

Several equities research analysts have issued reports on MODG shares. Tigress Financial reissued a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a report on Friday, April 12th. Raymond James upped their target price on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, KeyCorp lowered their target price on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th.

Topgolf Callaway Brands Trading Up 1.3 %

Shares of Topgolf Callaway Brands stock opened at $15.81 on Tuesday. The firm has a market capitalization of $2.90 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 1.66 and a beta of 1.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88. The company’s fifty day moving average price is $15.07 and its two-hundred day moving average price is $13.83. Topgolf Callaway Brands has a 52-week low of $9.84 and a 52-week high of $22.97.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. The firm had revenue of $897.10 million for the quarter, compared to analyst estimates of $867.25 million. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.27) EPS. On average, analysts expect that Topgolf Callaway Brands will post 0.29 EPS for the current year.

Insider Buying and Selling

In related news, Director Erik J. Anderson sold 2,028 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.79, for a total transaction of $29,994.12. Following the transaction, the director now owns 2,242 shares in the company, valued at approximately $33,159.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.79, for a total transaction of $29,994.12. Following the transaction, the director now directly owns 2,242 shares in the company, valued at approximately $33,159.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the transaction, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is owned by corporate insiders.

Institutional Trading of Topgolf Callaway Brands

A number of hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Topgolf Callaway Brands by 2.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 38,792 shares of the company’s stock valued at $537,000 after acquiring an additional 1,010 shares during the period. New York State Common Retirement Fund raised its position in shares of Topgolf Callaway Brands by 0.9% in the 4th quarter. New York State Common Retirement Fund now owns 166,700 shares of the company’s stock valued at $2,390,000 after acquiring an additional 1,406 shares during the period. Wolff Wiese Magana LLC raised its position in shares of Topgolf Callaway Brands by 87.8% in the 3rd quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock valued at $46,000 after acquiring an additional 1,551 shares during the period. Benjamin Edwards Inc. raised its position in shares of Topgolf Callaway Brands by 16.5% in the 4th quarter. Benjamin Edwards Inc. now owns 10,983 shares of the company’s stock valued at $157,000 after acquiring an additional 1,555 shares during the period. Finally, Covestor Ltd raised its position in shares of Topgolf Callaway Brands by 10.1% in the 3rd quarter. Covestor Ltd now owns 17,677 shares of the company’s stock valued at $245,000 after acquiring an additional 1,622 shares during the period. 84.69% of the stock is currently owned by institutional investors and hedge funds.

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.