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 currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $11.00.

A number of research analysts have weighed in on the company. Truist Financial reduced their target price on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. Roth Mkm reissued a "buy" rating and issued a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Finally, Jefferies Financial Group upgraded Topgolf Callaway Brands from a "hold" rating to a "buy" rating and boosted their price objective for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd.

Topgolf Callaway Brands Price Performance

NYSE:MODG traded down $0.18 during mid-day trading on Friday, hitting $6.55. 780,740 shares of the stock traded hands, compared to its average volume of 2,681,512. The business's 50-day moving average price is $6.38 and its 200 day moving average price is $7.80. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands has a 12-month low of $5.42 and a 12-month high of $16.89. The company has a market cap of $1.20 billion, a PE ratio of -81.86 and a beta of 1.47.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.07. The business had revenue of $924.40 million for the quarter, compared to the consensus estimate of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. On average, analysts expect that Topgolf Callaway Brands will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of institutional investors have recently modified their holdings of MODG. Asset Planning Inc purchased a new stake in Topgolf Callaway Brands during the 4th quarter worth approximately $33,000. Sterling Capital Management LLC lifted its stake in Topgolf Callaway Brands by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock worth $36,000 after purchasing an additional 4,050 shares in the last quarter. KBC Group NV lifted its stake in Topgolf Callaway Brands by 81.8% during the 4th quarter. KBC Group NV now owns 8,330 shares of the company's stock worth $65,000 after acquiring an additional 3,749 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in Topgolf Callaway Brands during the 1st quarter valued at about $66,000. Finally, Covestor Ltd grew its position in Topgolf Callaway Brands by 147.2% in the 4th quarter. Covestor Ltd now owns 9,286 shares of the company's stock valued at $73,000 after acquiring an additional 5,530 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.

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.