Topgolf Callaway Brands (NYSE:CALY) Price Target Raised to $19.00 at Truist Financial

Topgolf Callaway Brands (NYSE:CALY) had its price objective hoisted by stock analysts at Truist Financial to $19.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 9.37% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Wall Street Zen raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. UBS Group upped their price objective on shares of Topgolf Callaway Brands from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, March 27th. JPMorgan Chase & Co. upped their price objective on shares of Topgolf Callaway Brands to $18.00 and gave the stock a “neutral” rating in a research note on Thursday. Weiss Ratings raised shares of Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Finally, The Goldman Sachs Group assumed coverage on shares of Topgolf Callaway Brands in a research note on Thursday. They set a “neutral” rating and a $17.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.25.

Topgolf Callaway Brands Stock Down 0.0%

NYSE CALY opened at $17.37 on Monday. The company has a market capitalization of $3.12 billion, a PE ratio of 124.10 and a beta of 0.96. The company has a 50-day simple moving average of $15.17. Topgolf Callaway Brands has a twelve month low of $7.64 and a twelve month high of $18.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.44 and a current ratio of 2.28.

Topgolf Callaway Brands (NYSE:CALY) last posted its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.14. Topgolf Callaway Brands had a net margin of 1.05% and a return on equity of 4.44%. Topgolf Callaway Brands’s quarterly revenue was down 37.1% compared to the same quarter last year. Research analysts anticipate that Topgolf Callaway Brands will post 0.75 earnings per share for the current year.

About Topgolf Callaway Brands

Topgolf Callaway Brands plc (NYSE: MODG) is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.