Topgolf Callaway Brands (NYSE:MODG) Price Target Raised to $14.00

Topgolf Callaway Brands (NYSE:MODG) had its price target hoisted by Bank of America from $13.00 to $14.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently issued reports on MODG. KeyCorp cut Topgolf Callaway Brands from an overweight rating to a sector weight rating in a report on Thursday, August 8th. Truist Financial dropped their price target on Topgolf Callaway Brands from $20.00 to $16.00 and set a buy rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group lowered Topgolf Callaway Brands from a buy rating to a hold rating and decreased their price objective for the company from $40.00 to $12.00 in a report on Thursday, August 29th. Morgan Stanley dropped their target price on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an underweight rating for the company in a report on Thursday, August 8th. Finally, TD Cowen raised their price target on shares of Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a hold rating in a research note on Monday, May 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Topgolf Callaway Brands presently has a consensus rating of Hold and an average target price of $16.38.

Topgolf Callaway Brands Stock Down 3.8 %

Topgolf Callaway Brands stock opened at $10.20 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. The stock has a market capitalization of $1.87 billion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 6.62 and a beta of 1.74. The business has a 50 day simple moving average of $13.31 and a 200-day simple moving average of $14.60. Topgolf Callaway Brands has a 12 month low of $9.84 and a 12 month high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.28 by $0.14. The company 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 firm’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. On average, analysts anticipate that Topgolf Callaway Brands will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Topgolf Callaway Brands

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Topgolf Callaway Brands by 0.5% during the 1st 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 boosted its stake in shares of Topgolf Callaway Brands by 21.8% in the second 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 during the period. Leonard Green & Partners L.P. acquired a new position in shares of Topgolf Callaway Brands in the second quarter valued at approximately $97,173,000. American Century Companies Inc. increased its stake 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 buying an additional 1,202,347 shares during the period. Finally, Bwcp LP increased its stake 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 buying an additional 312,836 shares during the period. 84.69% of the stock is currently owned by institutional investors and hedge funds.

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.