Topgolf Callaway Brands (NYSE:CALY) Shares Down 5.5% - What's Next?

Key Points

• Shares fell 5.5% on Monday to $14.32 (intraday low $14.15) on light volume of 371,985 shares, about an 87% drop from the average daily volume of 2.84 million.
• Analyst sentiment is mixed—Zacks upgraded to a "strong-buy," Weiss Ratings put a "sell (d-)," and UBS is "neutral" with a $15 target—leaving the consensus at a "Hold" and an average price target of $15.
• Topgolf Callaway Brands, formed by the July 2022 merger of Callaway and Topgolf, has a market cap of $2.57 billion and a negative trailing P/E of -44.06, with the stock trading near its 50‑day moving average (~$14.11).

Topgolf Callaway Brands Corp. (NYSE:CALY - Get Free Report) shares traded down 5.5% during trading on Monday . The stock traded as low as $14.15 and last traded at $14.32. 371,985 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 2,843,184 shares. The stock had previously closed at $15.16.

Wall Street Analysts Forecast Growth

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

Topgolf Callaway Brands Stock Performance

The company has a market cap of $2.57 billion, a price-to-earnings ratio of -44.06 and a beta of 0.95. The company has a current ratio of 1.36, a quick ratio of 1.22 and a debt-to-equity ratio of 0.31. The business's 50 day moving average price is $14.11.

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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