Topgolf Callaway Brands Corp. (NYSE:CALY) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Topgolf Callaway Brands Corp. (NYSE:CALY) have received an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $19.83.

CALY has been the topic of a number of analyst reports. UBS Group decreased their price target on Topgolf Callaway Brands from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, September 14th. KeyCorp raised their target price on shares of Topgolf Callaway Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Topgolf Callaway Brands from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. The Goldman Sachs Group upped their price target on shares of Topgolf Callaway Brands from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, Truist Financial increased their price target on shares of Topgolf Callaway Brands from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st.

Topgolf Callaway Brands Trading Up 5.4%

Shares of NYSE:CALY opened at $16.78 on Friday. The stock has a market capitalization of $3.00 billion, a P/E ratio of 22.08 and a beta of 0.98. The stock’s 50-day moving average price is $14.78 and its 200-day moving average price is $15.67. Topgolf Callaway Brands has a 12-month low of $9.24 and a 12-month high of $20.28.

Topgolf Callaway Brands (NYSE:CALY) last released its earnings results on Thursday, November 5th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.11. The company had revenue of $436.90 million during the quarter. Topgolf Callaway Brands had a return on equity of 7.62% and a net margin of 7.03%. Topgolf Callaway Brands’s revenue was down 53.2% on a year-over-year basis. As a group, research analysts predict that Topgolf Callaway Brands will post 0.81 EPS for the current year.

Institutional Trading of Topgolf Callaway Brands

A number of institutional investors have recently modified their holdings of CALY. Wellington Management Group LLP bought a new stake in shares of Topgolf Callaway Brands in the second quarter worth about $268,370,000. O Keefe Stevens Advisory Inc. raised its position in Topgolf Callaway Brands by 2.4% during the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 1,217,521 shares of the company’s stock valued at $17,155,000 after purchasing an additional 28,798 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Topgolf Callaway Brands by 4.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 616,336 shares of the company’s stock worth $8,684,000 after buying an additional 27,251 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Topgolf Callaway Brands in the 2nd quarter worth approximately $6,239,000. Finally, Engineers Gate Manager LP purchased a new stake in Topgolf Callaway Brands in the 2nd quarter worth approximately $5,243,000. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

About Topgolf Callaway Brands

Topgolf Callaway Brands is a golf and active-lifestyle company formed through Callaway Golf Company’s acquisition of Topgolf, which was completed in 2021. The company has combined traditional golf equipment and apparel operations with Topgolf’s technology-enabled entertainment venues.

Its golf portfolio has included Callaway and Odyssey golf clubs, golf balls, wedges, putters and accessories, along with apparel and lifestyle products sold under brands such as TravisMathew and OGIO. Topgolf venues provide golf entertainment, food and beverage service, event hosting and digitally supported play for both experienced golfers and newcomers.

Based in Carlsbad, California, the company has served customers through sporting-goods retailers, specialty golf shops, mass merchants, e-commerce platforms and direct-to-consumer channels.