Topgolf Callaway Brands Corp. (NYSE:MODG) Given Average Recommendation of “Hold” by Analysts

Topgolf Callaway Brands Corp. (NYSE:MODG) has received a consensus recommendation of “Hold” from the eleven analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.30.

A number of analysts have commented on MODG shares. Wall Street Zen cut Topgolf Callaway Brands from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Truist Financial reduced their target price on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating for the company in a report on Monday, April 14th. B. Riley began coverage on shares of Topgolf Callaway Brands in a report on Friday, May 16th. They set a “neutral” rating and a $7.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Topgolf Callaway Brands from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, May 27th. Finally, Roth Mkm restated a “buy” rating and set a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th.

Topgolf Callaway Brands Trading Down 2.3%

Topgolf Callaway Brands stock opened at $7.72 on Friday. The business has a 50-day simple moving average of $6.64 and a two-hundred day simple moving average of $7.17. Topgolf Callaway Brands has a 52-week low of $5.42 and a 52-week high of $16.89. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.42 billion, a P/E ratio of -96.43 and a beta of 1.21.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.15. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 EPS. Analysts predict that Topgolf Callaway Brands will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Oliver G. Brewer III bought 20,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average price of $6.40 per share, for a total transaction of $128,000.00. Following the acquisition, the chief executive officer now owns 1,009,297 shares of the company’s stock, valued at $6,459,500.80. The trade was a 2.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Adebayo O. Ogunlesi purchased 38,782 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were purchased at an average price of $7.59 per share, for a total transaction of $294,355.38. Following the completion of the acquisition, the director now directly owns 845,284 shares in the company, valued at $6,415,705.56. The trade was a 4.81% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 905,284 shares of company stock valued at $5,922,500 in the last three months. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Topgolf Callaway Brands

Hedge funds and other institutional investors have recently bought and sold shares of the business. Asset Planning Inc bought a new position in Topgolf Callaway Brands in the 4th quarter worth about $33,000. Sterling Capital Management LLC increased its holdings in Topgolf Callaway Brands by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 4,543 shares of the company’s stock worth $36,000 after purchasing an additional 4,050 shares during the period. Dynamic Advisor Solutions LLC bought a new stake in Topgolf Callaway Brands during the 1st quarter valued at $66,000. Capstone Financial Advisors Inc. purchased a new stake in shares of Topgolf Callaway Brands in the 1st quarter worth $66,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Topgolf Callaway Brands by 52.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 10,636 shares of the company’s stock valued at $70,000 after buying an additional 3,640 shares during the period. Hedge funds and other institutional investors own 84.69% of the company’s stock.

About Topgolf Callaway Brands

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.