Topgolf Callaway Brands (NYSE:MODG) Receives "Buy" Rating from Tigress Financial

Tigress Financial reiterated their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG - Free Report) in a report published on Friday morning, Benzinga reports. Tigress Financial currently has a $38.00 target price on the stock.

Other analysts also recently issued research reports about the stock. Raymond James increased their target price on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an outperform rating in a research report on Thursday, January 4th. KeyCorp decreased their price target on Topgolf Callaway Brands from $20.00 to $18.00 and set an overweight rating for the company in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $20.64.

Topgolf Callaway Brands Trading Down 2.0 %

NYSE:MODG traded down $0.33 during mid-day trading on Friday, hitting $16.00. 1,436,762 shares of the company's stock were exchanged, compared to its average volume of 2,676,735. Topgolf Callaway Brands has a fifty-two week low of $9.84 and a fifty-two week high of $23.01. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $2.94 billion, a P/E ratio of 35.47, a PEG ratio of 1.73 and a beta of 1.87. The company has a 50 day simple moving average of $14.76 and a 200-day simple moving average of $13.73.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.34) by $0.04. The company had revenue of $897.10 million for the quarter, compared to analyst estimates of $867.25 million. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. Topgolf Callaway Brands's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.27) earnings per share. As a group, research analysts expect that Topgolf Callaway Brands will post 0.28 earnings per share for the current year.

Insider Activity at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 5,000 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the transaction, the director now owns 777,959 shares of the company's stock, valued at approximately $11,319,303.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the sale, the director now owns 2,242 shares in the company, valued at $33,159.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the transaction, the director now directly owns 777,959 shares in the company, valued at $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of institutional investors have recently added to or reduced their stakes in MODG. Vanguard Group Inc. grew its holdings in shares of Topgolf Callaway Brands by 13.6% in the fourth quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company's stock valued at $220,884,000 after acquiring an additional 1,845,864 shares in the last quarter. Shapiro Capital Management LLC increased its position in shares of Topgolf Callaway Brands by 651.6% during the 3rd quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company's stock valued at $133,683,000 after purchasing an additional 8,373,946 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Topgolf Callaway Brands by 3.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,918,317 shares of the company's stock worth $97,629,000 after purchasing an additional 167,973 shares during the period. State Street Corp boosted its holdings in shares of Topgolf Callaway Brands by 1.3% in the 2nd quarter. State Street Corp now owns 4,718,225 shares of the company's stock worth $93,657,000 after buying an additional 62,540 shares during the last quarter. Finally, Geode Capital Management LLC bought a new position in Topgolf Callaway Brands during the first quarter valued at about $57,769,000. 84.69% of the stock is owned by institutional investors.

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.