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

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $13.91.

Several equities analysts have recently issued reports on the stock. Roth Mkm reiterated a “buy” rating and set a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. Finally, Truist Financial dropped their target price 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.

Topgolf Callaway Brands Price Performance

MODG opened at $6.02 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 company has a market cap of $1.11 billion, a price-to-earnings ratio of -75.18 and a beta of 1.70. The stock has a fifty day simple moving average of $6.95 and a two-hundred day simple moving average of $8.37. Topgolf Callaway Brands has a 12-month low of $5.59 and a 12-month high of $16.89.

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, topping analysts’ consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The firm had revenue of $924.40 million for the quarter, compared to the consensus estimate of $1.13 billion. Research analysts predict that Topgolf Callaway Brands will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Augustine Asset Management Inc. lifted its holdings in shares of Topgolf Callaway Brands by 7.4% during the 4th quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company’s stock valued at $172,000 after buying an additional 1,500 shares during the period. MetLife Investment Management LLC increased its position in Topgolf Callaway Brands by 2.9% during the fourth quarter. MetLife Investment Management LLC now owns 82,820 shares of the company’s stock valued at $651,000 after acquiring an additional 2,303 shares during the last quarter. Tidal Investments LLC lifted its holdings in Topgolf Callaway Brands by 11.6% in the fourth quarter. Tidal Investments LLC now owns 24,898 shares of the company’s stock valued at $196,000 after acquiring an additional 2,596 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Topgolf Callaway Brands by 7.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company’s stock valued at $293,000 after acquiring an additional 2,712 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Topgolf Callaway Brands by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,716 shares of the company’s stock worth $634,000 after purchasing an additional 3,084 shares during the last quarter. 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.