Topgolf Callaway Brands (NYSE:CALY) Sets New 1-Year High – Here’s What Happened

Topgolf Callaway Brands Corp. (NYSE:CALY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.60 and last traded at $19.6520, with a volume of 148680 shares. The stock had previously closed at $18.98.

Analysts Set New Price Targets

A number of brokerages recently commented on CALY. UBS Group upped their target price on Topgolf Callaway Brands from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings upgraded shares of Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. The Goldman Sachs Group began coverage on shares of Topgolf Callaway Brands in a report on Thursday, June 11th. They issued a “neutral” rating and a $17.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Topgolf Callaway Brands to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Finally, Truist Financial raised their target price on shares of Topgolf Callaway Brands to $19.00 and gave the stock a “buy” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Topgolf Callaway Brands currently has a consensus rating of “Moderate Buy” and an average target price of $18.25.

Topgolf Callaway Brands Stock Down 1.0%

The company has a current ratio of 2.28, a quick ratio of 1.44 and a debt-to-equity ratio of 0.07. The business’s 50-day simple moving average is $16.95. The stock has a market cap of $3.50 billion, a P/E ratio of 138.99 and a beta of 0.92.

Topgolf Callaway Brands (NYSE:CALY) last announced its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.14. Topgolf Callaway Brands had a return on equity of 4.44% and a net margin of 1.05%.The business’s revenue for the quarter was down 37.1% compared to the same quarter last year. Analysts predict that Topgolf Callaway Brands Corp. will post 0.75 EPS for the current fiscal year.

About Topgolf Callaway Brands

Topgolf Callaway Brands plc (NYSE: MODG) is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.