Brokerages Set Topgolf Callaway Brands Corp. (NYSE:MODG) PT at $10.50

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) has received a consensus rating of "Hold" from the eleven analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $10.50.

A number of equities research analysts have recently issued reports on the company. B. Riley started coverage on Topgolf Callaway Brands in a research note on Friday, May 16th. They issued a "neutral" rating and a $7.00 target price for the company. Truist Financial decreased their price target on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a report on Monday, April 14th. Wall Street Zen lowered shares of Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, Roth Mkm reissued a "buy" rating and set a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th.

Insider Buying and Selling

In other Topgolf Callaway Brands news, Director Russell L. Fleischer acquired 30,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was purchased at an average price of $6.41 per share, with a total value of $192,300.00. Following the completion of the acquisition, the director now directly owns 116,187 shares in the company, valued at $744,758.67. This trade represents a 34.81% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Glenn F. Hickey bought 10,000 shares of the stock in a transaction on Monday, May 19th. The shares were acquired at an average price of $6.86 per share, with a total value of $68,600.00. Following the purchase, the executive vice president now owns 10,000 shares of the company's stock, valued at $68,600. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 60,000 shares of company stock worth $388,900. Insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Augustine Asset Management Inc. raised its stake in Topgolf Callaway Brands by 7.4% during the fourth quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company's stock worth $172,000 after acquiring an additional 1,500 shares during the period. Boyar Asset Management Inc. grew its holdings in shares of Topgolf Callaway Brands by 1.7% during the first quarter. Boyar Asset Management Inc. now owns 109,984 shares of the company's stock valued at $725,000 after purchasing an additional 1,857 shares during the last quarter. Jump Financial LLC grew its holdings in shares of Topgolf Callaway Brands by 3.1% during the first quarter. Jump Financial LLC now owns 75,685 shares of the company's stock valued at $499,000 after purchasing an additional 2,265 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Topgolf Callaway Brands by 2.9% during the 4th quarter. MetLife Investment Management LLC now owns 82,820 shares of the company's stock worth $651,000 after purchasing an additional 2,303 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Topgolf Callaway Brands by 26.9% in the 1st quarter. Covestor Ltd now owns 11,785 shares of the company's stock worth $78,000 after purchasing an additional 2,499 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Trading Down 1.1%

MODG traded down $0.07 during trading on Wednesday, hitting $6.26. 1,867,889 shares of the company's stock were exchanged, compared to its average volume of 2,756,310. Topgolf Callaway Brands has a 1 year low of $5.42 and a 1 year high of $16.89. The stock has a 50 day moving average price of $6.54 and a 200 day moving average price of $7.34. The firm has a market cap of $1.15 billion, a P/E ratio of -78.24 and a beta of 1.25. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.15. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $0.08 EPS. The business's quarterly revenue was down 4.5% on a year-over-year basis. As a group, analysts expect that Topgolf Callaway Brands will post 0.16 EPS for the current fiscal year.

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.