Topgolf Callaway Brands (NYSE:MODG) Given New $14.00 Price Target at Bank of America

Topgolf Callaway Brands (NYSE:MODG) had its target price raised by stock analysts at Bank of America from $13.00 to $14.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target would indicate a potential upside of 37.25% from the company’s current price.

Other equities research analysts have also issued reports about the company. KeyCorp lowered Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research note on Thursday, August 8th. Raymond James downgraded Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research report on Friday, August 23rd. Jefferies Financial Group cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and cut their price objective for the company from $40.00 to $12.00 in a research report on Thursday, August 29th. Morgan Stanley lowered their target price on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Thursday, August 8th. Finally, Roth Mkm reiterated a “buy” rating and set a $17.00 price target on shares of Topgolf Callaway Brands in a report on Thursday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.38.

Topgolf Callaway Brands Stock Down 3.8 %

NYSE MODG opened at $10.20 on Thursday. The stock has a 50 day moving average price of $13.31 and a 200-day moving average price of $14.60. Topgolf Callaway Brands has a one year low of $9.84 and a one year high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93. The company has a market capitalization of $1.87 billion, a P/E ratio of 27.57, a P/E/G ratio of 6.62 and a beta of 1.74.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business earned $0.39 earnings per share. Topgolf Callaway Brands’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts predict that Topgolf Callaway Brands will post 0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MODG. Truist Financial Corp increased its position in Topgolf Callaway Brands by 63.9% during the 2nd quarter. Truist Financial Corp now owns 45,972 shares of the company’s stock valued at $703,000 after purchasing an additional 17,931 shares during the period. NewEdge Advisors LLC increased its holdings in Topgolf Callaway Brands by 888.0% during the second quarter. NewEdge Advisors LLC now owns 88,969 shares of the company’s stock valued at $1,361,000 after buying an additional 79,964 shares during the period. Creative Planning raised its stake in Topgolf Callaway Brands by 6.8% in the second quarter. Creative Planning now owns 22,201 shares of the company’s stock worth $340,000 after buying an additional 1,415 shares in the last quarter. Algert Global LLC purchased a new stake in Topgolf Callaway Brands during the second quarter worth $226,000. Finally, Leonard Green & Partners L.P. bought a new stake in Topgolf Callaway Brands during the 2nd quarter valued at $97,173,000. Institutional investors own 84.69% of the company’s stock.

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.