Topgolf Callaway Brands (NYSE:CALY) Hits New 52-Week High - Should You Buy?

Key Points

• Topgolf Callaway Brands hit a new 52-week high, trading as high as $19.60, after a recent run-up in the share price.
• Analyst sentiment has improved, with recent upgrades from Wall Street Zen and Zacks Research, while the overall consensus remains a Moderate Buy and average price target is $18.25.
• The company beat its last quarterly EPS estimate, but revenue fell 37.1% year over year, and analysts expect full-year EPS of 0.75.

Topgolf Callaway Brands Corp. (NYSE:CALY - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $19.60 and last traded at $19.6520, with a volume of 148680 shares. The stock had previously closed at $18.98.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen raised Topgolf Callaway Brands from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. JPMorgan Chase & Co. lifted their target price on shares of Topgolf Callaway Brands to $18.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. The Goldman Sachs Group assumed coverage on shares of Topgolf Callaway Brands in a research note on Thursday, June 11th. They issued a "neutral" rating and a $17.00 target price for the company. Zacks Research raised shares of Topgolf Callaway Brands from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 7th. Finally, UBS Group upped their price objective on shares of Topgolf Callaway Brands from $15.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $18.25.

Topgolf Callaway Brands Stock Performance

The company has a market capitalization of $3.51 billion, a PE ratio of 139.57 and a beta of 0.92. The business's 50 day simple moving average is $16.76. The company has a current ratio of 2.28, a quick ratio of 1.44 and a debt-to-equity ratio of 0.07.

Topgolf Callaway Brands (NYSE:CALY - Get Free Report) last posted its quarterly earnings data 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 net margin of 1.05% and a return on equity of 4.44%. The company's revenue was down 37.1% compared to the same quarter last year. Sell-side analysts anticipate that Topgolf Callaway Brands Corp. will post 0.75 EPS 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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