Topgolf Callaway Brands (NYSE:MODG) Given Neutral Rating at B. Riley

Topgolf Callaway Brands (NYSE:MODG)‘s stock had its “neutral” rating reaffirmed by equities research analysts at B. Riley in a research report issued on Monday,Benzinga reports. They presently have a $11.00 price objective on the stock, up from their previous price objective of $9.50. B. Riley’s price target points to a potential upside of 2.87% from the stock’s current price.

Several other brokerages have also issued reports on MODG. Wall Street Zen upgraded Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Zacks Research downgraded shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. UBS Group assumed coverage on shares of Topgolf Callaway Brands in a research report on Friday, October 17th. They set a “neutral” rating and a $10.00 price target on the stock. Truist Financial boosted their price objective on shares of Topgolf Callaway Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Morgan Stanley assumed coverage on shares of Topgolf Callaway Brands in a research report on Friday, July 18th. They issued an “equal weight” rating and a $9.50 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.50.

Topgolf Callaway Brands Trading Up 0.9%

Shares of NYSE MODG traded up $0.09 during midday trading on Monday, reaching $10.69. The stock had a trading volume of 2,214,202 shares, compared to its average volume of 2,747,235. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.85. The company’s 50 day moving average price is $9.40 and its 200 day moving average price is $8.59. Topgolf Callaway Brands has a twelve month low of $5.42 and a twelve month high of $10.98. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -1.31 and a beta of 1.19.

Topgolf Callaway Brands (NYSE:MODG) last issued its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.16. The business had revenue of $465.30 million for the quarter, compared to analyst estimates of $903.96 million. Topgolf Callaway Brands had a negative net margin of 36.08% and a positive return on equity of 0.37%. Topgolf Callaway Brands’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 earnings per share. Topgolf Callaway Brands has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side analysts expect that Topgolf Callaway Brands will post 0.16 EPS for the current year.

Insider Activity at Topgolf Callaway Brands

In other news, CEO Artie Starrs sold 106,734 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $8.64, for a total value of $922,181.76. Following the sale, the chief executive officer directly owned 105,823 shares of the company’s stock, valued at $914,310.72. The trade was a 50.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new stake in shares of Topgolf Callaway Brands in the 1st quarter worth about $133,000. Principal Financial Group Inc. lifted its holdings in Topgolf Callaway Brands by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 704,970 shares of the company’s stock valued at $4,646,000 after buying an additional 18,490 shares in the last quarter. Cerity Partners LLC boosted its position in Topgolf Callaway Brands by 48.5% in the 1st quarter. Cerity Partners LLC now owns 16,177 shares of the company’s stock valued at $107,000 after buying an additional 5,286 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC bought a new position in Topgolf Callaway Brands in the 1st quarter worth about $73,000. Finally, Private Advisor Group LLC bought a new stake in shares of Topgolf Callaway Brands during the first quarter valued at approximately $685,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

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.