Topgolf Callaway Brands (NYSE:CALY) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Topgolf Callaway Brands from hold to strong-buy, adding to a mixed set of analyst views on the stock.
• Other recent ratings include UBS and Goldman Sachs at neutral, while Truist and Wall Street Zen were more bullish. Overall, MarketBeat shows a Moderate Buy consensus with a target price of $18.25.
• The stock was trading around $18.08, near its 52-week high of $19.36, after the company reported Q1 EPS of $0.56 versus expectations of $0.42. However, revenue fell 37.1% year over year, highlighting ongoing pressure on sales.

Topgolf Callaway Brands (NYSE:CALY - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

CALY has been the topic of several other reports. The Goldman Sachs Group started coverage on shares of Topgolf Callaway Brands in a research report on Thursday, June 11th. They issued a "neutral" rating and a $17.00 price target on the stock. UBS Group increased their target price on Topgolf Callaway Brands from $15.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, June 26th. Truist Financial raised their price target on Topgolf Callaway Brands to $19.00 and gave the stock a "buy" rating in a research report on Monday, June 15th. Weiss Ratings raised Topgolf Callaway Brands from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.25.

Topgolf Callaway Brands Stock Down 0.5%

Shares of CALY stock opened at $18.08 on Tuesday. The stock has a market capitalization of $3.25 billion, a PE ratio of 129.18 and a beta of 0.92. 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 has a fifty-two week low of $8.00 and a fifty-two week high of $19.36. The firm has a fifty day moving average price of $16.48.

Topgolf Callaway Brands (NYSE:CALY - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue for the quarter was down 37.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Topgolf Callaway Brands will post 0.75 earnings per share for the current year.

Topgolf Callaway Brands Company Profile

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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