Topgolf Callaway Brands Corp. (NYSE:MODG) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have earned a consensus rating of “Hold” from the thirteen research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.00.

Several equities research analysts have commented on the stock. KeyCorp lowered shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. Raymond James downgraded shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research report on Friday, August 23rd. Truist Financial cut their price objective on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Roth Mkm reaffirmed a “buy” rating and issued a $17.00 target price on shares of Topgolf Callaway Brands in a research note on Thursday, September 5th. Finally, TD Cowen lowered their target price on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th.

Institutional Trading of Topgolf Callaway Brands

A number of hedge funds have recently bought and sold shares of MODG. UniSuper Management Pty Ltd acquired a new stake in Topgolf Callaway Brands in the 1st quarter valued at about $643,000. Leonard Green & Partners L.P. acquired a new position in Topgolf Callaway Brands during the second quarter worth $97,173,000. Polen Capital Management LLC acquired a new position in Topgolf Callaway Brands during the fourth quarter worth $1,874,000. Illinois Municipal Retirement Fund acquired a new position in Topgolf Callaway Brands during the first quarter worth $1,360,000. Finally, Quadrature Capital Ltd acquired a new position in Topgolf Callaway Brands during the first quarter worth $677,000. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Price Performance

Shares of NYSE MODG opened at $9.91 on Tuesday. Topgolf Callaway Brands has a 1-year low of $9.05 and a 1-year high of $16.89. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 6.81 and a beta of 1.75. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. The stock’s 50-day moving average is $11.39 and its two-hundred day moving average is $14.06.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the business posted $0.39 EPS. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. Analysts forecast that Topgolf Callaway Brands will post 0.18 EPS for the current fiscal year.

About Topgolf Callaway Brands

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.