Topgolf Callaway Brands (NYSE:CALY) Rating Lowered to Hold at Zacks Research

Topgolf Callaway Brands (NYSE:CALY) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other research analysts have also commented on the company. Wall Street Zen upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group upped their price target on Topgolf Callaway Brands from $11.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, March 27th. Weiss Ratings upgraded Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on Topgolf Callaway Brands from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Topgolf Callaway Brands presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Topgolf Callaway Brands Stock Up 0.1%

Shares of CALY stock opened at $15.23 on Thursday. Topgolf Callaway Brands has a 12 month low of $5.86 and a 12 month high of $18.00. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 108.79 and a beta of 0.95. The stock’s 50 day simple moving average is $14.35. The company has a current ratio of 2.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.07.

Topgolf Callaway Brands (NYSE:CALY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.14. Topgolf Callaway Brands had a return on equity of 4.44% and a net margin of 1.05%.The company’s revenue for the quarter was down 37.1% on a year-over-year basis. As a group, equities analysts predict that Topgolf Callaway Brands will post 0.66 EPS for the current fiscal year.

Topgolf Callaway Brands Company Profile

Topgolf Callaway Brands plc (NYSE: MODG) is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.