Topgolf Callaway Brands (NYSE:MODG) PT Lowered to $12.00

Topgolf Callaway Brands (NYSE:MODG) had its price target reduced by investment analysts at Bank of America from $14.00 to $12.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 29.45% from the company’s current price.

MODG has been the subject of several other research reports. KeyCorp lowered Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. Jefferies Financial Group cut Topgolf Callaway Brands from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. Raymond James lowered Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research report on Friday, August 23rd. Truist Financial reduced their target price on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Roth Mkm restated a “buy” rating and issued a $17.00 price objective on shares of Topgolf Callaway Brands in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.23.

Topgolf Callaway Brands Stock Performance

NYSE MODG traded up $0.03 during trading hours on Thursday, hitting $9.27. The company had a trading volume of 939,454 shares, compared to its average volume of 2,480,158. The company has a market cap of $1.70 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 6.71 and a beta of 1.75. Topgolf Callaway Brands has a 1-year low of $9.05 and a 1-year high of $16.89. The business has a 50 day moving average of $12.99 and a 200-day moving average of $14.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93.

Topgolf Callaway Brands (NYSE:MODG) last posted 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 analysts’ expectations 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 quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. As a group, equities research analysts expect that Topgolf Callaway Brands will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several hedge funds and other institutional investors have recently bought and sold shares of MODG. Fifth Third Bancorp raised its holdings in shares of Topgolf Callaway Brands by 327.6% during the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after purchasing an additional 1,936 shares during the period. Dnca Finance purchased a new stake in shares of Topgolf Callaway Brands during the 2nd quarter valued at $134,000. Caas Capital Management LP purchased a new stake in shares of Topgolf Callaway Brands during the 4th quarter valued at $148,000. Koss Olinger Consulting LLC bought a new position in shares of Topgolf Callaway Brands during the 2nd quarter valued at $160,000. Finally, Simon Quick Advisors LLC bought a new position in shares of Topgolf Callaway Brands during the 2nd quarter valued at $161,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

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.