Topgolf Callaway Brands Corp. (NYSE:MODG) Given Consensus Rating of “Hold” by Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been given a consensus rating of “Hold” by the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $16.00.

MODG has been the subject of a number of research reports. Morgan Stanley decreased their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th. TD Cowen lowered their target price on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday. Truist Financial reduced their price target on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group lowered their price objective on Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Raymond James lowered shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd.

Institutional Investors Weigh In On Topgolf Callaway Brands

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

Topgolf Callaway Brands Price Performance

Shares of MODG stock opened at $10.88 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93. Topgolf Callaway Brands has a fifty-two week low of $9.05 and a fifty-two week high of $16.89. The firm has a market cap of $2.00 billion, a P/E ratio of 29.41, a P/E/G ratio of 6.08 and a beta of 1.74. The business’s 50 day moving average price is $12.56 and its 200-day moving average price is $14.36.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm earned $0.39 EPS. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Topgolf Callaway Brands will post 0.18 earnings per share for the current year.

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.