Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $15.31 Average Price Target from Analysts

Topgolf Callaway Brands Corp. (NYSE:MODG) has received a consensus rating of “Hold” from the eleven brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $15.73.

MODG has been the topic of several recent research reports. B. Riley downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $12.00 in a research report on Thursday, October 17th. TD Cowen reduced their target price on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. Morgan Stanley lowered their price target on shares of 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 reduced their price objective 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. Finally, Roth Mkm reiterated a “buy” rating and issued a $17.00 target price on shares of Topgolf Callaway Brands in a research note on Thursday, September 5th.

Topgolf Callaway Brands Stock Down 1.3 %

MODG stock opened at $9.62 on Friday. The stock has a fifty day moving average of $10.22 and a 200-day moving average of $13.11. Topgolf Callaway Brands has a fifty-two week low of $9.05 and a fifty-two week high of $16.89. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 97.50, a PEG ratio of 6.37 and a beta of 1.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. The company had revenue of $1.16 billion for 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%. Topgolf Callaway Brands’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 EPS. As a group, equities research analysts predict that Topgolf Callaway Brands will post 0.18 earnings per share for the current year.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several institutional investors have recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in Topgolf Callaway Brands by 327.6% in the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after buying an additional 1,936 shares in the last quarter. Dnca Finance bought a new position in shares of Topgolf Callaway Brands during the 2nd quarter valued at $134,000. Koss Olinger Consulting LLC purchased a new position in Topgolf Callaway Brands in the 2nd quarter worth $160,000. Simon Quick Advisors LLC purchased a new stake in Topgolf Callaway Brands during the second quarter valued at about $161,000. Finally, QRG Capital Management Inc. bought a new position in shares of Topgolf Callaway Brands during the first quarter valued at about $178,000. 84.69% of the stock is currently owned by 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.