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

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

Several other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Topgolf Callaway Brands from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday. B. Riley Financial reissued a “buy” rating and set a $23.00 target price (up from $19.00) on shares of Topgolf Callaway Brands in a research note on Wednesday. UBS Group raised their target price on shares of Topgolf Callaway Brands from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. KeyCorp lifted their price target on shares of Topgolf Callaway Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Truist Financial upped their price target on Topgolf Callaway Brands to $19.00 and gave the company a “buy” rating in a report on Monday, June 15th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.00.

Topgolf Callaway Brands Trading Up 1.4%

NYSE:CALY opened at $17.62 on Thursday. The business’s 50-day moving average price is $17.86. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 40.97 and a beta of 0.93. Topgolf Callaway Brands has a 52-week low of $8.00 and a 52-week high of $20.28.

Topgolf Callaway Brands (NYSE:CALY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. Topgolf Callaway Brands had a net margin of 3.37% and a return on equity of 5.86%. The firm had revenue of $612.20 million for the quarter. The company’s revenue was down 44.9% compared to the same quarter last year. On average, equities analysts anticipate that Topgolf Callaway Brands will post 0.75 earnings per share for the current fiscal year.

About Topgolf Callaway Brands

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.