Topgolf Callaway Brands (NYSE:MODG) PT Raised to $14.00 at Bank of America

Topgolf Callaway Brands (NYSE:MODG) had its price objective increased by Bank of America from $13.00 to $14.00 in a research note published on Thursday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other analysts also recently issued reports about the company. TD Cowen lifted their price target on Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a hold rating in a report on Monday, May 13th. KeyCorp cut Topgolf Callaway Brands from an overweight rating to a sector weight rating in a research note on Thursday, August 8th. Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a buy rating to a hold rating and dropped their price target for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. Truist Financial cut their price objective on shares of 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, Morgan Stanley lowered their target price on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an underweight rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $16.38.

Topgolf Callaway Brands Stock Down 3.8 %

MODG stock opened at $10.20 on Thursday. The company’s 50 day moving average price is $13.31 and its 200 day moving average price is $14.60. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 6.62 and a beta of 1.74. Topgolf Callaway Brands has a fifty-two week low of $9.84 and a fifty-two week high of $16.89. 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 announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. Topgolf Callaway Brands had a net margin of 0.50% and a return on equity of 2.07%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. On average, equities research analysts anticipate that Topgolf Callaway Brands will post 0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System grew its holdings in shares of Topgolf Callaway Brands by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company’s stock worth $1,088,000 after buying an additional 700 shares during the last quarter. Creative Planning increased its holdings in shares of Topgolf Callaway Brands by 6.8% in the second quarter. Creative Planning now owns 22,201 shares of the company’s stock valued at $340,000 after purchasing an additional 1,415 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of Topgolf Callaway Brands by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 124,043 shares of the company’s stock worth $2,006,000 after purchasing an additional 1,633 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Topgolf Callaway Brands by 5.2% during the second quarter. SG Americas Securities LLC now owns 36,961 shares of the company’s stock worth $566,000 after purchasing an additional 1,819 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Topgolf Callaway Brands by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock valued at $1,200,000 after buying an additional 1,888 shares during 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.