Topgolf Callaway Brands (NYSE:MODG) Reaches New 52-Week Low - Here's What Happened

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $7.10 and last traded at $7.11, with a volume of 1010400 shares changing hands. The stock had previously closed at $7.23.

Wall Street Analyst Weigh In

MODG has been the subject of several research reports. Jefferies Financial Group raised Topgolf Callaway Brands from a "hold" rating to a "buy" rating and raised their price objective for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, January 23rd. The Goldman Sachs Group cut their price objective 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. Roth Mkm reiterated a "buy" rating and issued a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday. Finally, Truist Financial dropped their target price 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $13.91.

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Topgolf Callaway Brands Stock Performance

The firm's fifty day moving average is $7.91 and its 200 day moving average is $9.16. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -83.30 and a beta of 1.70. 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 released its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The company had revenue of $924.40 million during the quarter, compared to the consensus estimate of $1.13 billion. On average, analysts predict that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Asset Planning Inc acquired a new stake in shares of Topgolf Callaway Brands during the 4th quarter valued at about $33,000. Sterling Capital Management LLC raised its position in Topgolf Callaway Brands by 821.5% during 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 in the last quarter. KBC Group NV lifted its stake in Topgolf Callaway Brands by 81.8% in the fourth quarter. KBC Group NV now owns 8,330 shares of the company's stock valued at $65,000 after acquiring an additional 3,749 shares during the last quarter. Covestor Ltd lifted its stake in Topgolf Callaway Brands by 147.2% in the fourth 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 bought a new stake in Topgolf Callaway Brands in the fourth quarter worth approximately $81,000. Hedge funds and other institutional investors 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.