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

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have received a consensus rating of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. Two research 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 1 year target price among brokerages that have covered the stock in the last year is $16.23.

Several analysts have issued reports on the company. Truist Financial cut their price objective on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. KeyCorp cut Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lowered their target price on Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Jefferies Financial Group cut Topgolf Callaway Brands from a “buy” rating to a “hold” rating and lowered their target price for the company from $40.00 to $12.00 in a research report on Thursday, August 29th. Finally, Raymond James cut Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research report on Friday, August 23rd.

Institutional Trading of Topgolf Callaway Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System lifted its position in shares of Topgolf Callaway Brands by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company’s stock worth $1,088,000 after purchasing an additional 700 shares during the last quarter. Creative Planning lifted its position in shares of Topgolf Callaway Brands by 6.8% during the 2nd quarter. Creative Planning now owns 22,201 shares of the company’s stock worth $340,000 after purchasing an additional 1,415 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Topgolf Callaway Brands by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 124,043 shares of the company’s stock worth $2,006,000 after purchasing an additional 1,633 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Topgolf Callaway Brands by 5.2% during the 2nd quarter. SG Americas Securities LLC now owns 36,961 shares of the company’s stock worth $566,000 after purchasing an additional 1,819 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Topgolf Callaway Brands by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock worth $1,200,000 after purchasing an additional 1,888 shares during the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

MODG stock opened at $9.51 on Friday. Topgolf Callaway Brands has a 12-month low of $9.05 and a 12-month high of $16.89. The stock has a 50-day moving average price of $12.88 and a two-hundred day moving average price of $14.47. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.74 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 6.71 and a beta of 1.75.

Topgolf Callaway Brands (NYSE:MODG) last issued its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company’s revenue was down 1.9% compared to the same quarter last year. As a group, research analysts predict that Topgolf Callaway Brands will post 0.18 EPS for the current 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.