Topgolf Callaway Brands (NYSE:MODG) Shares Up 3.6% - What's Next?

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) traded up 3.6% during trading on Thursday . The stock traded as high as $6.75 and last traded at $6.72. 422,374 shares changed hands during trading, a decline of 83% from the average session volume of 2,533,512 shares. The stock had previously closed at $6.48.

Wall Street Analysts Forecast Growth

MODG has been the subject of several research analyst reports. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and upped their price target for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Truist Financial reduced their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Roth Mkm reissued a "buy" rating and issued a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Thursday, January 23rd. Two equities research 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's stock. Based on data from MarketBeat.com, Topgolf Callaway Brands presently has a consensus rating of "Hold" and a consensus price target of $13.91.

Topgolf Callaway Brands Trading Up 2.1 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The firm has a fifty day moving average price of $7.24 and a 200 day moving average price of $8.56. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -86.18 and a beta of 1.70.

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Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.07. The firm had revenue of $924.40 million during the quarter, compared to analysts' expectations 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, equities analysts predict that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of institutional investors have recently bought and sold shares of MODG. Alliancebernstein L.P. boosted its stake in shares of Topgolf Callaway Brands by 97.6% during the 4th quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company's stock worth $16,919,000 after acquiring an additional 1,063,033 shares during the period. Ameriprise Financial Inc. boosted its position in Topgolf Callaway Brands by 57.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company's stock worth $16,401,000 after purchasing an additional 764,322 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of Topgolf Callaway Brands in the fourth quarter valued at $4,769,000. Claar Advisors LLC bought a new position in shares of Topgolf Callaway Brands in the fourth quarter valued at about $4,716,000. Finally, Invesco Ltd. lifted its stake in shares of Topgolf Callaway Brands by 41.9% during the 4th quarter. Invesco Ltd. now owns 1,591,742 shares of the company's stock worth $12,511,000 after buying an additional 469,728 shares during the last quarter. Institutional investors and hedge funds own 84.69% of the company's stock.

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.