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

Topgolf Callaway Brands Corp. (NYSE:MODG) has earned an average rating of “Hold” from the eleven brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $10.30.

MODG has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Topgolf Callaway Brands from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price target on Topgolf Callaway Brands from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, May 27th. B. Riley initiated coverage on Topgolf Callaway Brands in a report on Friday, May 16th. They set a “neutral” rating and a $7.00 price target for the company. Truist Financial decreased their target price on Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th.

Topgolf Callaway Brands Stock Performance

NYSE MODG opened at $8.32 on Friday. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -1.05 and a beta of 1.21. Topgolf Callaway Brands has a twelve month low of $5.42 and a twelve month high of $16.89. The stock has a fifty day simple moving average of $6.86 and a 200 day simple moving average of $7.17. The company has a quick ratio of 1.41, a current ratio of 2.12 and a debt-to-equity ratio of 0.60.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.15. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Topgolf Callaway Brands had a positive return on equity of 1.51% and a negative net margin of 34.68%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Sell-side analysts expect that Topgolf Callaway Brands will post 0.16 EPS for the current year.

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, EVP Glenn F. Hickey purchased 10,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average price of $6.86 per share, with a total value of $68,600.00. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at $68,600. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adebayo O. Ogunlesi purchased 38,782 shares of Topgolf Callaway Brands stock in a transaction that occurred on Tuesday, June 10th. The stock was acquired at an average cost of $7.59 per share, with a total value of $294,355.38. Following the transaction, the director now owns 845,284 shares in the company, valued at $6,415,705.56. This trade represents a 4.81% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 905,284 shares of company stock valued at $5,922,500. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Topgolf Callaway Brands

Hedge funds have recently added to or reduced their stakes in the stock. Asset Planning Inc acquired a new position in Topgolf Callaway Brands during the 4th quarter valued at about $33,000. Sterling Capital Management LLC boosted its position in shares of Topgolf Callaway Brands by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company’s stock valued at $36,000 after buying an additional 4,050 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new position in Topgolf Callaway Brands during the 1st quarter worth $66,000. Capstone Financial Advisors Inc. purchased a new position in Topgolf Callaway Brands during the 1st quarter worth $66,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Topgolf Callaway Brands by 52.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 10,636 shares of the company’s stock worth $70,000 after acquiring an additional 3,640 shares during the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

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.