Topgolf Callaway Brands Corp. (NYSE:MODG) Given Average Recommendation of “Hold” by Analysts

Topgolf Callaway Brands Corp. (NYSE:MODG) has received a consensus recommendation of “Hold” from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $16.00.

Several analysts recently weighed in on MODG shares. Morgan Stanley cut their price objective on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group cut Topgolf Callaway Brands from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $12.00 in a report on Thursday, August 29th. Bank of America decreased their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Raymond James downgraded Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd. Finally, TD Cowen reduced their price target on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Tuesday.

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $10.27 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $12.63 and a two-hundred day moving average of $14.39. The company has a market cap of $1.89 billion, a P/E ratio of 27.76, a PEG ratio of 6.08 and a beta of 1.74. Topgolf Callaway Brands has a 52 week low of $9.05 and a 52 week high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 EPS. As a group, analysts anticipate that Topgolf Callaway Brands will post 0.18 EPS for the current year.

Institutional Investors Weigh In On Topgolf Callaway Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Topgolf Callaway Brands by 0.5% in the first quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock valued at $250,383,000 after buying an additional 81,021 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Topgolf Callaway Brands by 21.8% during the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock worth $132,296,000 after purchasing an additional 1,549,222 shares during the period. Leonard Green & Partners L.P. purchased a new stake in shares of Topgolf Callaway Brands during the second quarter valued at $97,173,000. American Century Companies Inc. boosted its position in shares of Topgolf Callaway Brands by 60.8% in the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock valued at $48,634,000 after purchasing an additional 1,202,347 shares during the period. Finally, Bwcp LP increased its stake in Topgolf Callaway Brands by 20.3% in the 2nd quarter. Bwcp LP now owns 1,853,048 shares of the company’s stock worth $28,352,000 after purchasing an additional 312,836 shares in the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

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.