Topgolf Callaway Brands (NYSE:MODG) Reaches New 1-Year Low – Here’s Why

Topgolf Callaway Brands Corp. (NYSE:MODG) hit a new 52-week low on Tuesday . The stock traded as low as $5.95 and last traded at $6.08, with a volume of 132831 shares traded. The stock had previously closed at $6.21.

Analyst Ratings Changes

Several brokerages have recently issued reports on MODG. Roth Mkm reissued a “buy” rating and set a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. The Goldman Sachs Group reduced their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. JPMorgan Chase & Co. dropped their price target on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Truist Financial reduced their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Topgolf Callaway Brands currently has an average rating of “Hold” and an average target price of $13.91.

Topgolf Callaway Brands Trading Down 1.3 %

The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $7.83 and its 200 day simple moving average is $9.02. The stock has a market capitalization of $1.13 billion, a P/E ratio of -76.80 and a beta of 1.70.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.07. The business had revenue of $924.40 million during the quarter, compared to analyst estimates of $1.13 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. Equities research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of hedge funds have recently modified their holdings of the stock. Augustine Asset Management Inc. increased its stake in Topgolf Callaway Brands by 7.4% in the 4th quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company’s stock worth $172,000 after purchasing an additional 1,500 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Topgolf Callaway Brands by 2.9% in the 4th quarter. MetLife Investment Management LLC now owns 82,820 shares of the company’s stock valued at $651,000 after purchasing an additional 2,303 shares during the period. Tidal Investments LLC lifted its position in Topgolf Callaway Brands by 11.6% in the 4th quarter. Tidal Investments LLC now owns 24,898 shares of the company’s stock worth $196,000 after buying an additional 2,596 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Topgolf Callaway Brands by 7.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company’s stock worth $293,000 after acquiring an additional 2,712 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Topgolf Callaway Brands by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,716 shares of the company’s stock worth $634,000 after purchasing an additional 3,084 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.

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.