Topgolf Callaway Brands Corp. (NYSE:MODG) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) have been assigned an average recommendation of "Hold" from the thirteen brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $15.31.

Several equities analysts have weighed in on MODG shares. Truist Financial cut their target price on Topgolf Callaway Brands from $20.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group lowered Topgolf Callaway Brands from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $40.00 to $12.00 in a research note on Thursday, August 29th. Raymond James lowered Topgolf Callaway Brands from an "outperform" rating to an "underperform" rating in a research note on Friday, August 23rd. TD Cowen dropped their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a "hold" rating on the stock in a research note on Tuesday, September 17th. Finally, Morgan Stanley dropped their price objective on Topgolf Callaway Brands from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Thursday, August 8th.

Topgolf Callaway Brands Stock Up 0.8 %

MODG traded up $0.08 during trading on Friday, reaching $9.79. 2,095,476 shares of the stock traded hands, compared to its average volume of 2,498,278. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 97.91, a price-to-earnings-growth ratio of 6.29 and a beta of 1.75. Topgolf Callaway Brands has a fifty-two week low of $9.05 and a fifty-two week high of $16.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. The stock's 50-day simple moving average is $10.29 and its two-hundred day simple moving average is $13.25.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.14. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations 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 last year, the firm earned $0.39 earnings per share. As a group, equities research analysts expect that Topgolf Callaway Brands will post 0.18 EPS for the current year.

Institutional Investors Weigh In On Topgolf Callaway Brands

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Resource Council boosted its holdings in shares of Topgolf Callaway Brands by 111.3% in the 3rd quarter. Advisor Resource Council now owns 32,589 shares of the company's stock worth $358,000 after acquiring an additional 17,164 shares in the last quarter. Lansing Street Advisors acquired a new position in shares of Topgolf Callaway Brands in the 3rd quarter worth approximately $187,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Topgolf Callaway Brands by 115.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company's stock worth $18,059,000 after acquiring an additional 881,535 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Topgolf Callaway Brands in the 3rd quarter worth approximately $482,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Topgolf Callaway Brands by 998.0% in the 3rd quarter. International Assets Investment Management LLC now owns 15,032 shares of the company's stock worth $165,000 after acquiring an additional 13,663 shares in the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Company Profile

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.