TD Cowen Trims Topgolf Callaway Brands (NYSE:MODG) Target Price to $10.00

Topgolf Callaway Brands (NYSE:MODG) had its price objective cut by TD Cowen from $13.00 to $10.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

MODG has been the topic of a number of other research reports. The Goldman Sachs Group lowered their price objective on Topgolf Callaway Brands from $15.00 to $14.00 and set a neutral rating on the stock in a research note on Friday, August 9th. Raymond James cut shares of Topgolf Callaway Brands from an outperform rating to an underperform rating in a research report on Friday, August 23rd. KeyCorp cut shares of Topgolf Callaway Brands from an overweight rating to a sector weight rating in a research report on Thursday, August 8th. Bank of America decreased their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a neutral rating on the stock in a report on Thursday, September 12th. Finally, Truist Financial dropped their price target on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a buy rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $16.00.

Topgolf Callaway Brands Trading Down 1.6 %

Shares of Topgolf Callaway Brands stock opened at $10.71 on Tuesday. The stock has a market cap of $1.97 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 6.08 and a beta of 1.74. The firm has a fifty day moving average price of $12.48 and a 200 day moving average price of $14.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. Topgolf Callaway Brands has a 1 year low of $9.05 and a 1 year high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.28 by $0.14. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. Topgolf Callaway Brands had a net margin of 0.50% and a return on equity of 2.07%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. Equities research analysts predict that Topgolf Callaway Brands will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp grew its stake in Topgolf Callaway Brands by 327.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after purchasing an additional 1,936 shares in the last quarter. Dnca Finance acquired a new position in Topgolf Callaway Brands in the second quarter valued at approximately $134,000. Caas Capital Management LP purchased a new position in Topgolf Callaway Brands in the fourth quarter valued at approximately $148,000. Koss Olinger Consulting LLC acquired a new stake in Topgolf Callaway Brands during the second quarter worth approximately $160,000. Finally, Simon Quick Advisors LLC purchased a new stake in shares of Topgolf Callaway Brands during the 2nd quarter worth approximately $161,000. 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.