Topgolf Callaway Brands (NYSE:MODG - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Sunday.
Several other equities research analysts also recently issued reports on the company. Truist Financial cut their price objective on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, April 14th. B. Riley began coverage on Topgolf Callaway Brands in a report on Friday, May 16th. They issued a "neutral" rating and a $7.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Topgolf Callaway Brands currently has a consensus rating of "Hold" and an average price target of $10.30.
Get Our Latest Report on Topgolf Callaway Brands
Topgolf Callaway Brands Trading Up 1.1%
NYSE:MODG traded up $0.10 on Friday, reaching $8.84. The company's stock had a trading volume of 1,996,103 shares, compared to its average volume of 2,868,930. Topgolf Callaway Brands has a 12-month low of $5.42 and a 12-month high of $16.89. The company has a quick ratio of 1.41, a current ratio of 2.12 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -1.12 and a beta of 1.27. The stock has a 50 day moving average price of $7.40 and a 200 day moving average price of $7.23.
Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.15. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. Topgolf Callaway Brands had a positive return on equity of 1.51% and a negative net margin of 34.68%. The company's revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 earnings per share. On average, equities analysts anticipate that Topgolf Callaway Brands will post 0.16 EPS for the current fiscal year.
Insider Buying and Selling
In other Topgolf Callaway Brands news, Director Russell L. Fleischer purchased 30,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was bought at an average cost of $6.41 per share, with a total value of $192,300.00. Following the acquisition, the director directly owned 116,187 shares of the company's stock, valued at approximately $744,758.67. This represents a 34.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Adebayo O. Ogunlesi purchased 384,731 shares of the firm's stock in a transaction on Friday, June 6th. The shares were acquired at an average cost of $6.48 per share, with a total value of $2,493,056.88. Following the completion of the acquisition, the director directly owned 768,432 shares in the company, valued at $4,979,439.36. The trade was a 100.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 905,284 shares of company stock valued at $5,922,500. Company insiders own 2.40% of the company's stock.
Institutional Trading of Topgolf Callaway Brands
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Topgolf Callaway Brands by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 15,860,996 shares of the company's stock worth $124,667,000 after buying an additional 224,578 shares during the last quarter. Shapiro Capital Management LLC lifted its holdings in Topgolf Callaway Brands by 3.6% during the 4th quarter. Shapiro Capital Management LLC now owns 10,520,632 shares of the company's stock worth $82,692,000 after buying an additional 366,192 shares during the last quarter. Long Focus Capital Management LLC lifted its holdings in shares of Topgolf Callaway Brands by 44.8% in the 1st quarter. Long Focus Capital Management LLC now owns 2,950,844 shares of the company's stock valued at $19,446,000 after purchasing an additional 912,844 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Topgolf Callaway Brands by 21.7% in the 1st quarter. Alliancebernstein L.P. now owns 2,618,608 shares of the company's stock valued at $17,257,000 after purchasing an additional 466,043 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Topgolf Callaway Brands by 8.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,478,250 shares of the company's stock valued at $16,332,000 after purchasing an additional 191,531 shares during the period. 84.69% of the stock is owned by hedge funds and other institutional investors.
Topgolf Callaway Brands Company Profile
(
Get Free Report)
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.
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