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

Topgolf Callaway Brands Corp. (NYSE:MODG) has been assigned an average rating of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $13.91.

MODG has been the subject of several recent analyst reports. Truist Financial reduced their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and increased their price target for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Roth Mkm reiterated a “buy” rating and set a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd.

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $6.26 on Tuesday. 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 stock has a 50 day simple moving average of $6.92 and a 200-day simple moving average of $8.33. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -78.18 and a beta of 1.47. Topgolf Callaway Brands has a 12-month low of $5.45 and a 12-month high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.07. The firm had revenue of $924.40 million during the quarter, compared to analysts’ expectations of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. On average, equities analysts forecast that Topgolf Callaway Brands will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of institutional investors have recently added to or reduced their stakes in MODG. Asset Planning Inc purchased a new position in Topgolf Callaway Brands in the 4th quarter valued at about $33,000. Sterling Capital Management LLC raised its stake in Topgolf Callaway Brands by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company’s stock worth $36,000 after acquiring an additional 4,050 shares during the period. KBC Group NV lifted its holdings in Topgolf Callaway Brands by 81.8% in the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock worth $65,000 after acquiring an additional 3,749 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Topgolf Callaway Brands by 147.2% in the 4th quarter. Covestor Ltd now owns 9,286 shares of the company’s stock worth $73,000 after purchasing an additional 5,530 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in Topgolf Callaway Brands during the 4th quarter valued at approximately $81,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

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.