Topgolf Callaway Brands Corp. (NYSE:MODG) Receives Average Rating of “Hold” from Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been assigned a consensus rating of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $19.33.

A number of research firms recently weighed in on MODG. B. Riley boosted their target price on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Tigress Financial reiterated a “buy” rating and issued a $38.00 price objective on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. TD Cowen boosted their price objective on Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Finally, Truist Financial boosted their price objective on Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, April 29th.

Topgolf Callaway Brands Stock Performance

Shares of MODG opened at $15.00 on Friday. The company has a market cap of $2.75 billion, a PE ratio of 40.54, a price-to-earnings-growth ratio of 2.47 and a beta of 1.77. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average price of $15.38 and a 200-day moving average price of $14.88. Topgolf Callaway Brands has a 12-month low of $9.84 and a 12-month high of $20.75.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. Topgolf Callaway Brands’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, equities analysts forecast that Topgolf Callaway Brands will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Erik J. Anderson sold 7,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total value of $115,275.00. Following the sale, the director now directly owns 760,459 shares of the company’s stock, valued at $11,688,254.83. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Erik J. Anderson sold 7,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total value of $115,275.00. Following the sale, the director now directly owns 760,459 shares of the company’s stock, valued at $11,688,254.83. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Erik J. Anderson sold 10,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $15.19, for a total value of $151,900.00. Following the completion of the sale, the director now directly owns 767,959 shares in the company, valued at $11,665,297.21. The disclosure for this sale can be found here. Insiders own 2.49% of the company’s stock.

Institutional Investors Weigh In On Topgolf Callaway Brands

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Topgolf Callaway Brands by 13.6% during the fourth quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock valued at $220,884,000 after purchasing an additional 1,845,864 shares in the last quarter. Norges Bank bought a new position in shares of Topgolf Callaway Brands during the fourth quarter valued at $10,467,000. Assenagon Asset Management S.A. bought a new position in shares of Topgolf Callaway Brands during the fourth quarter valued at $9,412,000. Motley Fool Wealth Management LLC bought a new position in shares of Topgolf Callaway Brands during the fourth quarter valued at $6,659,000. Finally, Bwcp LP lifted its holdings in shares of Topgolf Callaway Brands by 41.3% during the first quarter. Bwcp LP now owns 1,540,212 shares of the company’s stock valued at $24,905,000 after purchasing an additional 450,387 shares in the last quarter. 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.