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

Topgolf Callaway Brands Corp. (NYSE:MODG) has received an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $13.91.

Several research firms recently issued reports on MODG. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their target price for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. cut their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Truist Financial lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Roth Mkm restated a “buy” rating and set a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th.

Topgolf Callaway Brands Stock Down 9.0 %

Shares of MODG opened at $5.71 on Tuesday. The stock’s 50-day moving average price is $6.87 and its two-hundred day moving average price is $8.27. Topgolf Callaway Brands has a 12 month low of $5.45 and a 12 month high of $16.89. The company has a market capitalization of $1.05 billion, a PE ratio of -71.30 and a beta of 1.47. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. The company had revenue of $924.40 million for the quarter, compared to analyst estimates of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. On average, analysts anticipate that Topgolf Callaway Brands will post 0.16 EPS for the current year.

Institutional Trading of Topgolf Callaway Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Topgolf Callaway Brands by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 15,860,996 shares of the company’s stock valued at $124,667,000 after purchasing an additional 224,578 shares in the last quarter. Shapiro Capital Management LLC lifted its position in shares of 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Topgolf Callaway Brands by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock worth $35,749,000 after buying an additional 22,003 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Topgolf Callaway Brands by 14.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company’s stock valued at $17,974,000 after acquiring an additional 291,052 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Topgolf Callaway Brands by 97.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock valued at $16,919,000 after acquiring an additional 1,063,033 shares during the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Company Profile

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.