Topgolf Callaway Brands Corp. (NYSE:MODG) Given Average Recommendation of "Hold" by Brokerages

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) has received an average rating of "Hold" from the twelve research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $13.91.

A number of equities analysts have commented on MODG shares. Roth Mkm restated a "buy" rating and issued a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. Jefferies Financial Group raised Topgolf Callaway Brands from a "hold" rating to a "buy" rating and raised their price target for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Finally, Truist Financial reduced their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th.

Institutional Trading of Topgolf Callaway Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Planning Inc acquired a new stake in shares of Topgolf Callaway Brands during the 4th quarter worth approximately $33,000. Sterling Capital Management LLC boosted its stake in Topgolf Callaway Brands by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock valued at $36,000 after acquiring an additional 4,050 shares during the last quarter. KBC Group NV grew its holdings in Topgolf Callaway Brands by 81.8% during the 4th quarter. KBC Group NV now owns 8,330 shares of the company's stock worth $65,000 after acquiring an additional 3,749 shares during the period. Covestor Ltd raised its position in shares of Topgolf Callaway Brands by 147.2% during the 4th quarter. Covestor Ltd now owns 9,286 shares of the company's stock valued at $73,000 after acquiring an additional 5,530 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Topgolf Callaway Brands in the 4th quarter valued at $81,000. 84.69% of the stock is owned by institutional investors.

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Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock traded up $0.43 during midday trading on Tuesday, hitting $6.73. 1,993,627 shares of the company were exchanged, compared to its average volume of 2,557,584. The firm has a 50 day simple moving average of $7.03 and a 200-day simple moving average of $8.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The firm has a market cap of $1.24 billion, a P/E ratio of -84.11 and a beta of 1.70. Topgolf Callaway Brands has a 52 week low of $5.59 and a 52 week high of $16.89.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $924.40 million during the quarter, compared to analysts' expectations of $1.13 billion. Research analysts forecast that Topgolf Callaway Brands will post 0.16 earnings per share for the current year.

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.