Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $20.64 Average PT from Brokerages

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $20.64.

Several research firms have recently weighed in on MODG. KeyCorp reduced their price target on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Raymond James boosted their price target on Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, Tigress Financial restated a “buy” rating and set a $38.00 price target on shares of Topgolf Callaway Brands in a report on Friday, April 12th.

Insider Activity at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 2,028 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the sale, the director now directly owns 2,242 shares in the company, valued at $33,159.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.79, for a total transaction of $29,994.12. Following the transaction, the director now directly owns 2,242 shares in the company, valued at approximately $33,159.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the transaction, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of large investors have recently modified their holdings of MODG. Shapiro Capital Management LLC lifted its holdings in shares of Topgolf Callaway Brands by 651.6% in the 3rd quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company’s stock worth $133,683,000 after purchasing an additional 8,373,946 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Topgolf Callaway Brands by 13.6% in the 4th quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock worth $220,884,000 after purchasing an additional 1,845,864 shares in the last quarter. Norges Bank bought a new position in shares of Topgolf Callaway Brands in the 4th quarter worth $10,467,000. Assenagon Asset Management S.A. bought a new position in shares of Topgolf Callaway Brands in the 4th quarter worth $9,412,000. Finally, First Dallas Securities Inc. lifted its holdings in shares of Topgolf Callaway Brands by 1,004.7% in the 3rd quarter. First Dallas Securities Inc. now owns 611,466 shares of the company’s stock worth $8,463,000 after purchasing an additional 556,116 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Stock Performance

Topgolf Callaway Brands stock opened at $15.81 on Tuesday. Topgolf Callaway Brands has a 12-month low of $9.84 and a 12-month high of $22.97. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $15.07 and its two-hundred day moving average price is $13.83. The stock has a market cap of $2.90 billion, a PE ratio of 34.37, a P/E/G ratio of 1.66 and a beta of 1.87.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The firm had revenue of $897.10 million for the quarter, compared to analysts’ expectations of $867.25 million. During the same quarter in the previous year, the business posted ($0.27) earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts expect that Topgolf Callaway Brands will post 0.29 earnings per share 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.