Truist Financial Increases Topgolf Callaway Brands (NYSE:MODG) Price Target to $20.00

Topgolf Callaway Brands (NYSE:MODG) had its price target boosted by analysts at Truist Financial from $18.00 to $20.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 24.84% from the company’s current price.

Several other brokerages have also recently issued reports on MODG. Raymond James lifted their price target on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. Tigress Financial reissued a “buy” rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Finally, KeyCorp reduced their price objective on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.82.

Topgolf Callaway Brands Trading Down 2.4 %

NYSE:MODG opened at $16.02 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $15.24 and its two-hundred day moving average is $13.95. Topgolf Callaway Brands has a 52 week low of $9.84 and a 52 week high of $22.79. The company has a market cap of $2.94 billion, a PE ratio of 34.83, a P/E/G ratio of 1.69 and a beta of 1.87.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.04. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The business had revenue of $897.10 million for the quarter, compared to the consensus estimate of $867.25 million. During the same quarter last year, the business posted ($0.27) EPS. The business’s revenue was up 5.4% on a year-over-year basis. On average, analysts predict that Topgolf Callaway Brands will post 0.29 EPS for the current year.

Insider Buying and Selling at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total transaction of $72,750.00. Following the sale, the director now directly owns 777,959 shares in the company, valued at approximately $11,319,303.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the transaction, the director now directly owns 777,959 shares in the company, valued at approximately $11,319,303.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the transaction, the director now owns 2,242 shares in the company, valued at $33,159.18. The disclosure for this sale can be found here. Company insiders own 11.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in Topgolf Callaway Brands during the 4th quarter worth $44,000. Wolff Wiese Magana LLC raised its stake in Topgolf Callaway Brands by 87.8% during the 3rd quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock worth $46,000 after buying an additional 1,551 shares during the period. JFS Wealth Advisors LLC raised its stake in Topgolf Callaway Brands by 6,063.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 4,561 shares of the company’s stock worth $65,000 after buying an additional 4,487 shares during the period. PNC Financial Services Group Inc. raised its stake in Topgolf Callaway Brands by 151.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock worth $100,000 after buying an additional 4,362 shares during the period. Finally, Ranch Capital Advisors Inc. acquired a new stake in Topgolf Callaway Brands during the 3rd quarter worth $140,000. Institutional investors and hedge funds 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.