Roth Mkm Reaffirms Buy Rating for Topgolf Callaway Brands (NYSE:MODG)

Roth Mkm restated their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG) in a research note released on Thursday morning, Benzinga reports. Roth Mkm currently has a $17.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group cut their price target on Topgolf Callaway Brands from $15.00 to $14.00 and set a neutral rating on the stock in a report on Friday, August 9th. Jefferies Financial Group downgraded Topgolf Callaway Brands from a buy rating to a hold rating and cut their target price for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. Bank of America cut Topgolf Callaway Brands from a buy rating to a neutral rating and decreased their price target for the stock from $18.00 to $13.00 in a research note on Thursday, August 8th. TD Cowen lifted their price objective on shares of Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a hold rating in a research note on Monday, May 13th. Finally, Truist Financial decreased their target price on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a buy rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $16.38.

Topgolf Callaway Brands Price Performance

Shares of NYSE MODG opened at $10.20 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. The firm has a market capitalization of $1.87 billion, a PE ratio of 27.57, a P/E/G ratio of 6.62 and a beta of 1.74. Topgolf Callaway Brands has a 1-year low of $9.84 and a 1-year high of $16.89. The business’s fifty day moving average price is $13.31 and its two-hundred day moving average price is $14.60.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Topgolf Callaway Brands had a net margin of 0.50% and a return on equity of 2.07%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. On average, research analysts expect that Topgolf Callaway Brands will post 0.18 EPS for the current year.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of institutional investors and hedge funds have recently bought and sold shares of MODG. Leonard Green & Partners L.P. acquired a new position in shares of Topgolf Callaway Brands in the 2nd quarter worth approximately $97,173,000. Vanguard Group Inc. boosted its holdings in Topgolf Callaway Brands by 13.6% during the fourth quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock worth $220,884,000 after buying an additional 1,845,864 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Topgolf Callaway Brands by 21.8% in the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock worth $132,296,000 after buying an additional 1,549,222 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Topgolf Callaway Brands by 60.8% in the second quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock valued at $48,634,000 after buying an additional 1,202,347 shares in the last quarter. Finally, Granite Investment Partners LLC acquired a new stake in shares of Topgolf Callaway Brands during the 2nd quarter valued at $13,757,000. 84.69% of the stock is owned by institutional investors and hedge funds.

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.