Roth Mkm Reiterates “Buy” Rating for Topgolf Callaway Brands (NYSE:MODG)

Topgolf Callaway Brands (NYSE:MODG)‘s stock had its “buy” rating reaffirmed by investment analysts at Roth Mkm in a note issued to investors on Tuesday,Benzinga reports. They presently have a $11.00 price objective on the stock, down from their previous price objective of $16.00. Roth Mkm’s price objective points to a potential upside of 60.37% from the company’s current price.

MODG has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group reduced their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Jefferies Financial Group upgraded 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 report on Thursday, January 2nd. Finally, Truist Financial decreased their target price 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.91.

Topgolf Callaway Brands Price Performance

Topgolf Callaway Brands stock traded up $0.16 during mid-day trading on Tuesday, hitting $6.86. 3,264,035 shares of the company were exchanged, compared to its average volume of 2,920,263. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The business’s 50 day simple moving average is $7.93 and its two-hundred day simple moving average is $9.19. The company has a market capitalization of $1.26 billion, a P/E ratio of -85.80 and a beta of 1.70. Topgolf Callaway Brands has a 12-month low of $6.11 and a 12-month high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.07. The company had revenue of $924.40 million during the quarter, compared to the consensus estimate of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. Analysts forecast that Topgolf Callaway Brands will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of Topgolf Callaway Brands

Several institutional investors and hedge funds have recently bought and sold shares of MODG. Alliancebernstein L.P. raised its position in shares of Topgolf Callaway Brands by 97.6% during the 4th quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock worth $16,919,000 after purchasing an additional 1,063,033 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Topgolf Callaway Brands by 115.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock worth $18,059,000 after buying an additional 881,535 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Topgolf Callaway Brands by 57.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company’s stock worth $16,401,000 after buying an additional 764,322 shares in the last quarter. ExodusPoint Capital Management LP bought a new position in Topgolf Callaway Brands in the 4th quarter worth approximately $4,769,000. Finally, LGT Capital Partners LTD. bought a new position in Topgolf Callaway Brands in the 3rd quarter worth approximately $6,588,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

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.