Shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) have been assigned a consensus rating of "Hold" from the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $16.00.
A number of research analysts have recently weighed in on the company. Jefferies Financial Group lowered Topgolf Callaway Brands from a "buy" rating to a "hold" rating and cut their price objective for the company from $40.00 to $12.00 in a research report on Thursday, August 29th. Truist Financial decreased their price target on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Bank of America decreased their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, September 12th. Morgan Stanley decreased their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group decreased their price target on shares of Topgolf Callaway Brands from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Friday, August 9th.
View Our Latest Analysis on MODG
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Park Avenue Securities LLC increased its position in shares of Topgolf Callaway Brands by 13.5% in the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company's stock valued at $183,000 after acquiring an additional 1,985 shares during the period. Truist Financial Corp increased its stake in Topgolf Callaway Brands by 63.9% during the 2nd quarter. Truist Financial Corp now owns 45,972 shares of the company's stock worth $703,000 after buying an additional 17,931 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Topgolf Callaway Brands by 888.0% in the 2nd quarter. NewEdge Advisors LLC now owns 88,969 shares of the company's stock valued at $1,361,000 after purchasing an additional 79,964 shares in the last quarter. Creative Planning grew its holdings in shares of Topgolf Callaway Brands by 6.8% during the second quarter. Creative Planning now owns 22,201 shares of the company's stock worth $340,000 after buying an additional 1,415 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in Topgolf Callaway Brands during the 2nd quarter valued at about $226,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.
MODG opened at $9.91 on Tuesday. Topgolf Callaway Brands has a 12-month low of $9.05 and a 12-month high of $16.89. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $11.39 and a 200-day moving average price of $14.06. The stock has a market capitalization of $1.82 billion, a P/E ratio of 26.78, a PEG ratio of 6.81 and a beta of 1.75.
Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.14. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The business's revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 EPS. Equities analysts predict that Topgolf Callaway Brands will post 0.18 earnings per share for the current fiscal year.
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.
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