Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $13.91 Consensus Target Price from Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been assigned a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat reports. 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 company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $13.91.

Several research firms have weighed in on MODG. Roth Mkm reissued a “buy” rating and issued a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Truist Financial lowered their target price on 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. JPMorgan Chase & Co. reduced their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several hedge funds have recently made changes to their positions in MODG. Asset Planning Inc bought a new stake in Topgolf Callaway Brands in the fourth quarter valued at $33,000. Sterling Capital Management LLC lifted its position in shares of Topgolf Callaway Brands by 821.5% in the 4th quarter. Sterling Capital Management LLC now owns 4,543 shares of the company’s stock worth $36,000 after purchasing an additional 4,050 shares during the period. KBC Group NV boosted its stake in shares of Topgolf Callaway Brands by 81.8% during the 4th quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after purchasing an additional 3,749 shares in the last quarter. Covestor Ltd increased its position in shares of Topgolf Callaway Brands by 147.2% during the fourth quarter. Covestor Ltd now owns 9,286 shares of the company’s stock valued at $73,000 after buying an additional 5,530 shares during the period. Finally, FORA Capital LLC bought a new position in Topgolf Callaway Brands in the fourth quarter worth about $81,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock opened at $6.02 on Tuesday. The business’s 50-day moving average price is $6.95 and its 200-day moving average price is $8.37. The firm has a market capitalization of $1.11 billion, a PE ratio of -75.18 and a beta of 1.70. Topgolf Callaway Brands has a 12 month low of $5.59 and a 12 month high of $16.89. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. The business had revenue of $924.40 million for the quarter, compared to analysts’ expectations of $1.13 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. Sell-side analysts forecast that Topgolf Callaway Brands will post 0.16 EPS 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.