TD Cowen Trims Topgolf Callaway Brands (NYSE:MODG) Target Price to $10.00

Topgolf Callaway Brands (NYSE:MODG) had its price target lowered by TD Cowen from $13.00 to $10.00 in a report released on Tuesday, Benzinga reports. TD Cowen currently has a hold rating on the stock.

A number of other research analysts also recently weighed in on the company. Truist Financial lowered their target price on Topgolf Callaway Brands from $20.00 to $16.00 and set a buy rating on the stock in a report on Thursday, August 8th. Morgan Stanley lowered their target price on Topgolf Callaway Brands from $11.00 to $10.00 and set an underweight rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group lowered their target price on Topgolf Callaway Brands from $15.00 to $14.00 and set a neutral rating on the stock in a report on Friday, August 9th. Bank of America lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a neutral rating on the stock in a report on Thursday, September 12th. Finally, Raymond James downgraded Topgolf Callaway Brands from an outperform rating to an underperform rating in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $16.00.

Topgolf Callaway Brands Trading Up 2.6 %

Topgolf Callaway Brands stock opened at $10.88 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. Topgolf Callaway Brands has a one year low of $9.05 and a one year high of $16.89. The stock has a market capitalization of $2.00 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 6.08 and a beta of 1.74. The business’s fifty day moving average is $12.56 and its 200 day moving average is $14.36.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.28 by $0.14. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm posted $0.39 earnings per share. Topgolf Callaway Brands’s revenue was down 1.9% compared to the same quarter last year. On average, sell-side analysts predict that Topgolf Callaway Brands will post 0.18 EPS for the current year.

Institutional Trading of Topgolf Callaway Brands

Institutional investors have recently made changes to their positions in the business. UniSuper Management Pty Ltd purchased a new stake in shares of Topgolf Callaway Brands during the first quarter worth about $643,000. Polen Capital Management LLC purchased a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth about $1,874,000. GM Advisory Group LLC grew its position in shares of Topgolf Callaway Brands by 29.9% during the fourth quarter. GM Advisory Group LLC now owns 72,300 shares of the company’s stock worth $1,037,000 after purchasing an additional 16,635 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Topgolf Callaway Brands by 37.9% during the fourth quarter. Principal Financial Group Inc. now owns 740,736 shares of the company’s stock worth $10,622,000 after purchasing an additional 203,481 shares in the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Topgolf Callaway Brands during the first quarter worth about $1,360,000. 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.