Roth Mkm Reiterates "Buy" Rating for Topgolf Callaway Brands (NYSE:MODG)

Topgolf Callaway Brands (NYSE:MODG - Get Free Report)'s stock had its "buy" rating reiterated by Roth Mkm in a research note issued on Tuesday,Benzinga reports. They presently have a $11.00 price objective on the stock, down from their previous price objective of $16.00. Roth Mkm's price target would suggest a potential upside of 68.58% from the stock's current price.

Other analysts also recently issued reports about the stock. Truist Financial cut their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, January 23rd. The Goldman Sachs Group cut their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Finally, Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and boosted their price target for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.91.

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Topgolf Callaway Brands Stock Up 0.1 %

MODG traded up $0.01 during trading hours on Tuesday, reaching $6.53. 3,111,370 shares of the stock traded hands, compared to its average volume of 3,099,048. The firm's fifty day simple moving average is $7.86 and its two-hundred day simple moving average is $9.09. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -81.55 and a beta of 1.70. Topgolf Callaway Brands has a fifty-two week low of $6.11 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 1.14.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.07. The company had revenue of $924.40 million during the quarter, compared to analyst estimates of $1.13 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. As a group, analysts forecast that Topgolf Callaway Brands will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of Topgolf Callaway Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in shares of Topgolf Callaway Brands by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company's stock worth $21,912,000 after acquiring an additional 148,451 shares in the last quarter. Thompson Investment Management Inc. increased its position in shares of Topgolf Callaway Brands by 11.1% in the fourth quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company's stock worth $2,848,000 after acquiring an additional 36,201 shares in the last quarter. PDT Partners LLC purchased a new position in shares of Topgolf Callaway Brands in the third quarter worth approximately $1,934,000. Harbor Capital Advisors Inc. increased its position in shares of Topgolf Callaway Brands by 115.5% in the third 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. Finally, Empowered Funds LLC purchased a new position in shares of Topgolf Callaway Brands in the third quarter worth approximately $3,396,000. 84.69% of the stock is currently owned by institutional investors.

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.