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

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) have been assigned an average rating of "Hold" from the eleven ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $11.00.

A number of brokerages have recently issued reports on MODG. Truist Financial lowered their price target on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and boosted their price target for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price objective on 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. Finally, Roth Mkm restated a "buy" rating and set a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th.

Topgolf Callaway Brands Stock Performance

NYSE MODG opened at $6.72 on Friday. The company's 50 day moving average is $6.40 and its 200-day moving average is $7.86. The firm has a market cap of $1.23 billion, a P/E ratio of -83.99 and a beta of 1.47. Topgolf Callaway Brands has a 12-month low of $5.42 and a 12-month high of $16.89. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.07. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The firm had revenue of $924.40 million for the quarter, compared to the consensus estimate of $1.13 billion. Sell-side analysts predict that Topgolf Callaway Brands will post 0.16 earnings per share for the current year.

Institutional Trading of Topgolf Callaway Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. Boyar Asset Management Inc. boosted its stake in Topgolf Callaway Brands by 1.7% during the first quarter. Boyar Asset Management Inc. now owns 109,984 shares of the company's stock worth $725,000 after acquiring an additional 1,857 shares in the last quarter. New World Advisors LLC increased its position in Topgolf Callaway Brands by 24.2% during the 1st quarter. New World Advisors LLC now owns 34,925 shares of the company's stock valued at $230,000 after buying an additional 6,800 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in Topgolf Callaway Brands in the first quarter worth $66,000. Thompson Investment Management Inc. grew its stake in shares of Topgolf Callaway Brands by 2.8% in the first quarter. Thompson Investment Management Inc. now owns 372,350 shares of the company's stock worth $2,454,000 after acquiring an additional 10,051 shares during the last quarter. Finally, TrueWealth Advisors LLC bought a new position in shares of Topgolf Callaway Brands during the first quarter valued at $134,000. 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.

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