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

Topgolf Callaway Brands Corp. (NYSE:MODG) has received a consensus rating of “Hold” from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $13.91.

MODG has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. Truist Financial lowered 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. The Goldman Sachs Group lowered their price target on shares of 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. Roth Mkm reiterated a “buy” rating and set a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Augustine Asset Management Inc. lifted its stake in Topgolf Callaway Brands by 7.4% in the fourth quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company’s stock valued at $172,000 after buying an additional 1,500 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Topgolf Callaway Brands by 2.9% in the fourth quarter. MetLife Investment Management LLC now owns 82,820 shares of the company’s stock valued at $651,000 after buying an additional 2,303 shares in the last quarter. Tidal Investments LLC lifted its stake in Topgolf Callaway Brands by 11.6% in the fourth quarter. Tidal Investments LLC now owns 24,898 shares of the company’s stock valued at $196,000 after buying an additional 2,596 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Topgolf Callaway Brands by 7.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company’s stock valued at $293,000 after buying an additional 2,712 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Topgolf Callaway Brands by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,716 shares of the company’s stock valued at $634,000 after buying an additional 3,084 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Trading Down 4.9 %

Shares of NYSE MODG opened at $5.69 on Friday. Topgolf Callaway Brands has a 1-year low of $5.59 and a 1-year high of $16.89. The company has a market cap of $1.05 billion, a PE ratio of -71.05 and a beta of 1.70. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $7.62 and a two-hundred day moving average of $8.79.

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

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.