Topgolf Callaway Brands (NYSE:MODG) Earns “Buy” Rating from Roth Mkm

Roth Mkm restated their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG) in a research note released on Tuesday,Benzinga reports. Roth Mkm currently has a $11.00 target price on the stock, down from their prior target price of $16.00.

A number of other equities research analysts have also issued reports on MODG. JPMorgan Chase & Co. decreased their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Truist Financial decreased their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, The Goldman Sachs Group decreased their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.91.

Topgolf Callaway Brands Price Performance

Shares of MODG stock opened at $6.67 on Tuesday. Topgolf Callaway Brands has a 52-week low of $6.11 and a 52-week high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The firm has a market capitalization of $1.23 billion, a P/E ratio of -83.30 and a beta of 1.70. The stock has a 50 day moving average price of $7.91 and a 200 day moving average price of $9.16.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The firm had revenue of $924.40 million during the quarter, compared to analyst estimates of $1.13 billion. As a group, sell-side analysts predict that Topgolf Callaway Brands will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Topgolf Callaway Brands by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock valued at $21,912,000 after acquiring an additional 148,451 shares during the period. Thompson Investment Management Inc. increased its holdings in shares of Topgolf Callaway Brands by 11.1% in the 4th quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company’s stock valued at $2,848,000 after acquiring an additional 36,201 shares during the period. PDT Partners LLC purchased a new position in Topgolf Callaway Brands during the 3rd quarter worth $1,934,000. Harbor Capital Advisors Inc. grew its stake in Topgolf Callaway Brands by 115.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock worth $18,059,000 after buying an additional 881,535 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in Topgolf Callaway Brands during the 3rd quarter worth $3,396,000. 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.