Topgolf Callaway Brands (NYSE:CALY) Stock Price Expected to Rise, UBS Group Analyst Says

Topgolf Callaway Brands (NYSE:CALY) had its price objective increased by equities research analysts at UBS Group from $15.00 to $19.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target points to a potential upside of 0.24% from the stock’s previous close.

CALY has been the subject of several other reports. Zacks Research downgraded Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Truist Financial raised their price target on Topgolf Callaway Brands to $19.00 and gave the company a “buy” rating in a report on Monday, June 15th. The Goldman Sachs Group initiated coverage on shares of Topgolf Callaway Brands in a research report on Thursday, June 11th. They set a “neutral” rating and a $17.00 price objective for the company. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Topgolf Callaway Brands to $18.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.25.

Topgolf Callaway Brands Price Performance

CALY traded up $0.47 during trading on Friday, reaching $18.95. The company had a trading volume of 794,629 shares, compared to its average volume of 2,900,375. The stock has a market capitalization of $3.41 billion, a P/E ratio of 135.42 and a beta of 0.96. Topgolf Callaway Brands has a 12 month low of $7.93 and a 12 month high of $19.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.44 and a current ratio of 2.28. The company’s fifty day moving average price is $15.83.

Topgolf Callaway Brands (NYSE:CALY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates 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. As a group, sell-side analysts predict that Topgolf Callaway Brands will post 0.75 EPS for the current fiscal year.

Topgolf Callaway Brands Company Profile

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.