Topgolf Callaway Brands Corp. (NYSE:MODG) Receives Average Rating of "Hold" from Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) have earned an average recommendation of "Hold" from the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $10.30.

Several research analysts have commented on the company. Roth Mkm reaffirmed a "buy" rating and issued a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. B. Riley assumed coverage on Topgolf Callaway Brands in a research report on Friday, May 16th. They issued a "neutral" rating and a $7.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Wall Street Zen downgraded Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Truist Financial dropped their price target on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, April 14th.

Insider Buying and Selling

In related news, Director Russell L. Fleischer acquired 30,000 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was purchased at an average cost of $6.41 per share, for a total transaction of $192,300.00. Following the completion of the purchase, the director now directly owns 116,187 shares of the company's stock, valued at $744,758.67. The trade was a 34.81% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Oliver G. Brewer III acquired 20,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $6.40 per share, with a total value of $128,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,009,297 shares of the company's stock, valued at approximately $6,459,500.80. This represents a 2.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 905,284 shares of company stock valued at $5,922,500 over the last ninety days. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MODG. Asset Planning Inc acquired a new stake in shares of Topgolf Callaway Brands in the fourth quarter valued at $33,000. Sterling Capital Management LLC increased its stake in shares of Topgolf Callaway Brands by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock valued at $36,000 after buying an additional 4,050 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in shares of Topgolf Callaway Brands in the first quarter valued at $66,000. Capstone Financial Advisors Inc. acquired a new stake in shares of Topgolf Callaway Brands in the first quarter valued at $66,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Topgolf Callaway Brands by 52.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 10,636 shares of the company's stock valued at $70,000 after buying an additional 3,640 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Stock Down 0.4%

Shares of Topgolf Callaway Brands stock traded down $0.04 during trading on Friday, hitting $8.37. 2,650,533 shares of the stock traded hands, compared to its average volume of 2,828,159. The company has a fifty day moving average price of $6.78 and a two-hundred day moving average price of $7.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.41 and a current ratio of 2.12. Topgolf Callaway Brands has a twelve month low of $5.42 and a twelve month high of $16.89. The stock has a market cap of $1.54 billion, a P/E ratio of -1.06 and a beta of 1.21.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.15. Topgolf Callaway Brands had a positive return on equity of 1.51% and a negative net margin of 34.68%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business earned $0.08 EPS. The firm's revenue was down 4.5% compared to the same quarter last year. Equities research analysts predict that Topgolf Callaway Brands will post 0.16 EPS for the current fiscal 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.