Topgolf Callaway Brands (NYSE:MODG) Shares Up 3.6% – Still a Buy?

Topgolf Callaway Brands Corp. (NYSE:MODG)’s share price rose 3.6% on Thursday . The company traded as high as $6.75 and last traded at $6.72. Approximately 422,374 shares traded hands during trading, a decline of 83% from the average daily volume of 2,533,512 shares. The stock had previously closed at $6.48.

Analyst Upgrades and Downgrades

A number of research firms have commented on MODG. Roth Mkm reaffirmed a “buy” rating and issued a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Truist Financial cut their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. dropped their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.91.

Topgolf Callaway Brands Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The company has a market cap of $1.23 billion, a P/E ratio of -82.93 and a beta of 1.70. The firm’s fifty day moving average is $7.31 and its two-hundred day moving average is $8.62.

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

Institutional Investors Weigh In On Topgolf Callaway Brands

Several institutional investors and hedge funds have recently modified their holdings of MODG. Victory Capital Management Inc. lifted its stake in Topgolf Callaway Brands by 165.6% in the 3rd quarter. Victory Capital Management Inc. now owns 120,727 shares of the company’s stock worth $1,326,000 after purchasing an additional 75,270 shares in the last quarter. Quest Partners LLC purchased a new position in Topgolf Callaway Brands during the 3rd quarter valued at approximately $161,000. Prospera Financial Services Inc bought a new stake in Topgolf Callaway Brands in the 3rd quarter worth approximately $211,000. Intech Investment Management LLC purchased a new stake in shares of Topgolf Callaway Brands during the 3rd quarter worth approximately $424,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Topgolf Callaway Brands by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock valued at $21,912,000 after acquiring an additional 148,451 shares during the last quarter. Institutional investors 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.