Topgolf Callaway Brands Corp. (NYSE:MODG) Given Consensus Rating of “Hold” by Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $16.00.

Several research firms have weighed in on MODG. The Goldman Sachs Group lowered their price target 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. Jefferies Financial Group cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $12.00 in a research note on Thursday, August 29th. Morgan Stanley lowered their price objective on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th. Roth Mkm reiterated a “buy” rating and issued a $17.00 target price on shares of Topgolf Callaway Brands in a research report on Thursday, September 5th. Finally, Raymond James downgraded Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research report on Friday, August 23rd.

Topgolf Callaway Brands Price Performance

MODG stock opened at $10.88 on Friday. The firm has a 50 day moving average of $12.56 and a 200-day moving average of $14.36. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $2.00 billion, a P/E ratio of 29.41, a price-to-earnings-growth ratio of 6.08 and a beta of 1.74. Topgolf Callaway Brands has a 12 month low of $9.05 and a 12 month high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last released 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 firm had revenue of $1.16 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. As a group, sell-side analysts predict that Topgolf Callaway Brands will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of hedge funds and other institutional investors have recently modified their holdings of MODG. Fifth Third Bancorp increased its stake in Topgolf Callaway Brands by 327.6% in the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after purchasing an additional 1,936 shares during the period. Dnca Finance bought a new position in shares of Topgolf Callaway Brands in the second quarter worth approximately $134,000. Caas Capital Management LP purchased a new position in shares of Topgolf Callaway Brands in the fourth quarter worth $148,000. Koss Olinger Consulting LLC bought a new stake in Topgolf Callaway Brands during the 2nd quarter valued at $160,000. Finally, Simon Quick Advisors LLC purchased a new stake in Topgolf Callaway Brands during the 2nd quarter valued at $161,000. 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.