Topgolf Callaway Brands (NYSE:MODG) Trading Up 3.6% – Should You Buy?

Topgolf Callaway Brands Corp. (NYSE:MODG) rose 3.6% on Thursday . The company traded as high as $6.75 and last traded at $6.72. Approximately 422,374 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 2,533,512 shares. The stock had previously closed at $6.48.

Analysts Set New Price Targets

MODG has been the subject of several research reports. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and increased their price target for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Roth Mkm reissued a “buy” rating and issued a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Finally, Truist Financial dropped their price target on shares of 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.91.

Topgolf Callaway Brands Stock Up 2.9 %

The firm has a market cap of $1.23 billion, a PE ratio of -82.93 and a beta of 1.70. The stock has a 50 day simple moving average of $7.31 and a 200-day simple moving average of $8.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate 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. Sell-side analysts predict that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of institutional investors have recently made changes to their positions in MODG. Alliancebernstein L.P. boosted its stake in Topgolf Callaway Brands by 97.6% during the 4th quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock valued at $16,919,000 after purchasing an additional 1,063,033 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Topgolf Callaway Brands by 57.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company’s stock valued at $16,401,000 after purchasing an additional 764,322 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Topgolf Callaway Brands during the fourth quarter valued at $4,769,000. Claar Advisors LLC bought a new stake in Topgolf Callaway Brands in the 4th quarter worth about $4,716,000. Finally, Invesco Ltd. raised its position in Topgolf Callaway Brands by 41.9% in the 4th quarter. Invesco Ltd. now owns 1,591,742 shares of the company’s stock worth $12,511,000 after buying an additional 469,728 shares during the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

About Topgolf Callaway Brands

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.