Topgolf Callaway Brands (NYSE:MODG) Trading Up 3.6% – Time to Buy?

Topgolf Callaway Brands Corp. (NYSE:MODG) shares were up 3.6% during mid-day trading on Thursday . The company traded as high as $6.75 and last traded at $6.72. Approximately 422,374 shares traded hands 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. JPMorgan Chase & Co. decreased 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 note on Thursday, January 23rd. Truist Financial decreased their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Roth Mkm reissued a “buy” rating and issued a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Finally, Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their price target for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Topgolf Callaway Brands presently has a consensus rating of “Hold” and a consensus target price of $13.91.

Topgolf Callaway Brands Trading Up 2.2 %

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 stock has a fifty day moving average of $7.24 and a 200 day moving average of $8.58. The company has a market capitalization of $1.24 billion, a PE ratio of -84.44 and a beta of 1.70.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Augustine Asset Management Inc. grew its holdings in Topgolf Callaway Brands by 7.4% during the 4th 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 increased its position 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 worth $651,000 after purchasing an additional 2,303 shares during the last quarter. Tidal Investments LLC raised its stake in Topgolf Callaway Brands by 11.6% during the fourth quarter. Tidal Investments LLC now owns 24,898 shares of the company’s stock valued at $196,000 after purchasing an additional 2,596 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Topgolf Callaway Brands by 7.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company’s stock valued at $293,000 after purchasing an additional 2,712 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Topgolf Callaway Brands by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,716 shares of the company’s stock worth $634,000 after buying an additional 3,084 shares in the last quarter. Hedge funds and other 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.