Topgolf Callaway Brands (NYSE:CALY) Hits New 52-Week High on Analyst Upgrade

Key Points

• Topgolf Callaway Brands hit a new 52-week high after JPMorgan raised its price target to $17 from $15, even while keeping a neutral rating. The stock traded as high as $17.70, well above its prior close of $14.77.
• The company posted a strong first quarter, with EPS of $0.56 versus the $0.42 consensus and year-over-year gains in net sales, net income, and adjusted EBITDA. Management also raised 2026 guidance to roughly $2.0 billion to $2.1 billion in revenue.
• Despite the upbeat earnings and outlook, the business still faces pressure: revenue fell 37.1% from a year earlier, and Topgolf-related layoffs have continued to draw attention. Analyst views remain mixed overall, with the stock carrying a consensus rating of Hold.

Shares of Topgolf Callaway Brands Corp. (NYSE:CALY - Get Free Report) hit a new 52-week high on Saturday after JPMorgan Chase & Co. raised their price target on the stock from $15.00 to $17.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Topgolf Callaway Brands traded as high as $17.70 and last traded at $17.5120, with a volume of 8090268 shares changing hands. The stock had previously closed at $14.77.

Several other analysts also recently weighed in on CALY. UBS Group boosted their price objective on Topgolf Callaway Brands from $11.00 to $15.00 and gave the company a "neutral" rating in a research report on Friday, March 27th. Weiss Ratings assumed coverage on shares of Topgolf Callaway Brands in a report on Tuesday, March 3rd. They issued a "sell (d-)" rating on the stock. Finally, Zacks Research raised shares of Topgolf Callaway Brands from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $16.00.

Topgolf Callaway Brands News Roundup

Here are the key news stories impacting Topgolf Callaway Brands this week:

• Positive Sentiment: Topgolf Callaway beat Q1 estimates, reporting $0.56 EPS versus the $0.42 consensus, while PR materials highlighted 9% higher net sales, 18% higher net income from continuing operations, and 31% higher adjusted EBITDA year over year. CALLAWAY GOLF COMPANY ANNOUNCES FIRST QUARTER 2026 RESULTS
• Positive Sentiment: The company raised its 2026 outlook, with revenue guidance of about $2.0 billion to $2.1 billion and improving tariff conditions supporting a more constructive sales forecast. Callaway forecasts $2.015B-$2.070B in 2026 net sales as tariff outlook improves
• Positive Sentiment: Management also appeared confident enough to bump guidance after a strong start to the year, reinforcing the view that earnings momentum may be improving. Callaway Bumps Guidance after Strong Start to Year
• Neutral Sentiment: JPMorgan raised its price target on CALY to $17 from $15 but kept a neutral rating, suggesting the stock may already reflect much of the recent improvement. Benzinga report on JPMorgan price target change
• Neutral Sentiment: Additional coverage this morning focused on the company’s earnings transcript and presentation, which typically supports investor attention but is less likely to change the stock’s direction on its own. Callaway Golf (CALY) Q1 2026 Earnings Transcript
• Negative Sentiment: Despite the earnings beat, revenue was still down 37.1% year over year, and Topgolf layoff headlines continued to highlight operational pressure in parts of the business. Topgolf lays off hundreds following rocky private equity acquisition

Topgolf Callaway Brands Trading Up 18.6%

The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 125.09 and a beta of 0.95. The stock has a fifty day moving average of $14.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.22 and a current ratio of 1.36.

Topgolf Callaway Brands (NYSE:CALY - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.14. Topgolf Callaway Brands had a return on equity of 4.34% and a net margin of 1.05%.The business's revenue was down 37.1% compared to the same quarter last year. Equities analysts expect that Topgolf Callaway Brands Corp. will post 0.48 earnings per share for the current fiscal year.

About Topgolf Callaway Brands

Topgolf Callaway Brands plc NYSE: MODG is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.

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