Topgolf Callaway Brands (NYSE:MODG) PT Lowered to $12.00

Topgolf Callaway Brands (NYSE:MODG) had its price objective dropped by equities research analysts at Bank of America from $14.00 to $12.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective points to a potential upside of 29.45% from the stock’s previous close.

MODG has been the subject of a number of other reports. Raymond James lowered shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd. The Goldman Sachs Group reduced their price target on shares of Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Roth Mkm reiterated a “buy” rating and issued a $17.00 price target on shares of Topgolf Callaway Brands in a research note on Thursday, September 5th. Morgan Stanley reduced their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th. Finally, KeyCorp lowered shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.23.

Topgolf Callaway Brands Trading Up 0.3 %

Shares of MODG stock traded up $0.03 on Thursday, hitting $9.27. 939,454 shares of the company’s stock traded hands, compared to its average volume of 2,480,158. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 6.71 and a beta of 1.75. Topgolf Callaway Brands has a one year low of $9.05 and a one year high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93. The company’s fifty day simple moving average is $12.99 and its 200 day simple moving average is $14.51.

Topgolf Callaway Brands (NYSE:MODG) last issued its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.14. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Topgolf Callaway Brands had a net margin of 0.50% and a return on equity of 2.07%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. Equities analysts forecast that Topgolf Callaway Brands will post 0.18 EPS for the current year.

Institutional Trading of Topgolf Callaway Brands

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Topgolf Callaway Brands by 0.5% in the first quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock valued at $250,383,000 after acquiring an additional 81,021 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Topgolf Callaway Brands by 21.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock valued at $132,296,000 after purchasing an additional 1,549,222 shares in the last quarter. Leonard Green & Partners L.P. acquired a new position in Topgolf Callaway Brands during the 2nd quarter worth approximately $97,173,000. American Century Companies Inc. lifted its position in Topgolf Callaway Brands by 60.8% during the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock worth $48,634,000 after acquiring an additional 1,202,347 shares in the last quarter. Finally, Bwcp LP increased its holdings in Topgolf Callaway Brands by 20.3% during the 2nd quarter. Bwcp LP now owns 1,853,048 shares of the company’s stock worth $28,352,000 after purchasing an additional 312,836 shares during the last quarter. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

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.