Topgolf Callaway Brands (NYSE:MODG) Sets New 12-Month Low - Time to Sell?

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) shares reached a new 52-week low on Tuesday . The company traded as low as $5.95 and last traded at $6.08, with a volume of 132831 shares traded. The stock had previously closed at $6.21.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MODG shares. Roth Mkm restated a "buy" rating and issued a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target 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 upgraded Topgolf Callaway Brands from a "hold" rating to a "buy" rating and upped their price target for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. The Goldman Sachs Group lowered their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Finally, Truist Financial lowered their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Topgolf Callaway Brands has a consensus rating of "Hold" and an average price target of $13.91.

Topgolf Callaway Brands Stock Up 3.4 %

The firm has a fifty day moving average price of $7.69 and a 200-day moving average price of $8.88. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -78.93 and a beta of 1.70.

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Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $924.40 million for the quarter, compared to analysts' expectations of $1.13 billion. As a group, sell-side analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Topgolf Callaway Brands

Hedge funds have recently made changes to their positions in the business. Asset Planning Inc acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth $33,000. Sterling Capital Management LLC raised its position in shares of Topgolf Callaway Brands by 821.5% in the 4th quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock worth $36,000 after buying an additional 4,050 shares during the period. KBC Group NV raised its position in shares of Topgolf Callaway Brands by 81.8% in the 4th quarter. KBC Group NV now owns 8,330 shares of the company's stock worth $65,000 after buying an additional 3,749 shares during the period. Covestor Ltd raised its position in shares of Topgolf Callaway Brands by 147.2% in the 4th quarter. Covestor Ltd now owns 9,286 shares of the company's stock worth $73,000 after buying an additional 5,530 shares during the period. Finally, FORA Capital LLC purchased a new position in shares of Topgolf Callaway Brands in the 4th quarter worth $81,000. Institutional investors and hedge funds own 84.69% of the company's stock.

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.