Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $9.78 Consensus Target Price from Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have earned a consensus rating of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $9.7778.

Several research firms recently weighed in on MODG. Weiss Ratings reissued a “sell (d)” rating on shares of Topgolf Callaway Brands in a report on Wednesday, October 8th. B. Riley reissued a “neutral” rating and set a $9.50 price objective (up previously from $7.00) on shares of Topgolf Callaway Brands in a report on Monday, August 11th. Cfra reissued a “hold” rating and set a $9.00 price objective on shares of Topgolf Callaway Brands in a report on Friday, July 11th. UBS Group began coverage on Topgolf Callaway Brands in a report on Friday, October 17th. They set a “neutral” rating and a $10.00 price objective on the stock. Finally, Wall Street Zen raised Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a report on Saturday, August 9th.

Insider Buying and Selling at Topgolf Callaway Brands

In other news, CEO Artie Starrs sold 106,734 shares of Topgolf Callaway Brands stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $8.64, for a total value of $922,181.76. Following the completion of the transaction, the chief executive officer directly owned 105,823 shares of the company’s stock, valued at approximately $914,310.72. This trade represents a 50.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Erik J. Anderson sold 25,704 shares of Topgolf Callaway Brands stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $9.25, for a total value of $237,762.00. Following the completion of the transaction, the director directly owned 20,607 shares of the company’s stock, valued at approximately $190,614.75. This trade represents a 55.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Topgolf Callaway Brands by 92.8% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 99,700 shares of the company’s stock worth $947,000 after acquiring an additional 48,000 shares in the last quarter. O Keefe Stevens Advisory Inc. raised its position in shares of Topgolf Callaway Brands by 2,528.5% in the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 347,008 shares of the company’s stock worth $3,297,000 after acquiring an additional 333,806 shares in the last quarter. Corient Private Wealth LLC bought a new position in shares of Topgolf Callaway Brands in the 2nd quarter worth about $209,000. Nomura Holdings Inc. bought a new position in shares of Topgolf Callaway Brands in the 2nd quarter worth about $875,000. Finally, Public Sector Pension Investment Board raised its position in shares of Topgolf Callaway Brands by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 482,053 shares of the company’s stock worth $3,881,000 after acquiring an additional 33,131 shares in the last quarter. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Trading Up 4.4%

Shares of MODG stock opened at $9.93 on Friday. The stock’s fifty day moving average price is $9.43 and its two-hundred day moving average price is $8.25. The company has a market cap of $1.82 billion, a PE ratio of -1.22 and a beta of 1.24. Topgolf Callaway Brands has a fifty-two week low of $5.42 and a fifty-two week high of $10.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.85.

Topgolf Callaway Brands (NYSE:MODG) last issued its earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.21. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. Topgolf Callaway Brands had a positive return on equity of 0.37% and a negative net margin of 36.08%.The company’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. Equities analysts predict that Topgolf Callaway Brands will post 0.16 EPS for the current fiscal year.

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.