Analysts Set Topgolf Callaway Brands Corp. (NYSE:MODG) PT at $13.91

Topgolf Callaway Brands Corp. (NYSE:MODG) has earned a consensus rating of “Hold” from the twelve analysts that are 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 issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.91.

A number of research analysts have recently commented on MODG shares. JPMorgan Chase & Co. dropped their price target on 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. Roth Mkm reaffirmed a “buy” rating and set a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. The Goldman Sachs Group reduced their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Truist Financial dropped 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 note on Tuesday, January 7th. Finally, Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd.

Institutional Trading of Topgolf Callaway Brands

Institutional investors and hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. lifted its position in Topgolf Callaway Brands by 97.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock valued at $16,919,000 after purchasing an additional 1,063,033 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Topgolf Callaway Brands by 57.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company’s stock valued at $16,401,000 after buying an additional 764,322 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Topgolf Callaway Brands during the 4th quarter worth $4,769,000. LGT Capital Partners LTD. purchased a new position in Topgolf Callaway Brands in the third quarter worth $6,588,000. Finally, Claar Advisors LLC bought a new position in Topgolf Callaway Brands in the fourth quarter valued at $4,716,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

Shares of NYSE:MODG opened at $6.32 on Friday. Topgolf Callaway Brands has a fifty-two week low of $5.90 and a fifty-two week high of $16.89. The company’s 50-day moving average is $7.69 and its 200 day moving average is $8.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The company has a market capitalization of $1.16 billion, a P/E ratio of -78.93 and a beta of 1.70.

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

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.