Zacks Research Upgrades Topgolf Callaway Brands (NYSE:CALY) to Strong-Buy

Topgolf Callaway Brands (NYSE:CALY) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on CALY. The Goldman Sachs Group assumed coverage on shares of Topgolf Callaway Brands in a research report on Thursday, June 11th. They issued a “neutral” rating and a $17.00 price target for the company. Wall Street Zen upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. lifted their price objective on Topgolf Callaway Brands to $18.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Truist Financial upped their target price on Topgolf Callaway Brands to $19.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, Weiss Ratings raised Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Topgolf Callaway Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.

Topgolf Callaway Brands Stock Performance

NYSE:CALY opened at $18.08 on Tuesday. Topgolf Callaway Brands has a 52 week low of $8.00 and a 52 week high of $19.36. 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 $16.48. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 129.18 and a beta of 0.92.

Topgolf Callaway Brands (NYSE:CALY) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.14. Topgolf Callaway Brands had a net margin of 1.05% and a return on equity of 4.44%. The firm’s quarterly revenue was down 37.1% compared to the same quarter last year. Sell-side analysts anticipate that Topgolf Callaway Brands will post 0.75 EPS for the current 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.