Topgolf Callaway Brands (NYSE:MODG) Given Buy Rating at Roth Mkm

Topgolf Callaway Brands (NYSE:MODG)‘s stock had its “buy” rating reiterated by equities research analysts at Roth Mkm in a research note issued on Tuesday,Benzinga reports. They currently have a $11.00 target price on the stock, down from their previous target price of $16.00. Roth Mkm’s price target indicates a potential upside of 60.37% from the stock’s current price.

A number of other analysts have also issued reports on the company. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and increased their target price for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. The Goldman Sachs Group reduced their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Truist Financial reduced their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reduced their target price 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.91.

Topgolf Callaway Brands Price Performance

NYSE MODG traded up $0.16 on Tuesday, reaching $6.86. 3,264,035 shares of the stock traded hands, compared to its average volume of 2,920,263. The firm’s fifty day simple moving average is $7.93 and its 200 day simple moving average is $9.19. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -85.80 and a beta of 1.70. Topgolf Callaway Brands has a 12 month low of $6.11 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 for the quarter, topping the consensus estimate of ($0.40) by $0.07. The business had revenue of $924.40 million during the quarter, compared to analyst estimates of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. As a group, research analysts predict that Topgolf Callaway Brands will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several hedge funds and other institutional investors have recently made changes to their positions in MODG. International Assets Investment Management LLC grew its position in shares of Topgolf Callaway Brands by 998.0% in the third quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock valued at $165,000 after purchasing an additional 13,663 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Topgolf Callaway Brands in the third quarter valued at about $482,000. Harbor Capital Advisors Inc. grew its position in shares of Topgolf Callaway Brands by 115.5% in the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after purchasing an additional 881,535 shares during the last quarter. Lansing Street Advisors bought a new position in Topgolf Callaway Brands during the third quarter worth about $187,000. Finally, Advisor Resource Council raised its position in Topgolf Callaway Brands by 111.3% in the 3rd quarter. Advisor Resource Council now owns 32,589 shares of the company’s stock worth $358,000 after purchasing an additional 17,164 shares during the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

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.