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

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have received an average rating of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.9444.

Several brokerages have recently weighed in on MODG. Zacks Research lowered shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. UBS Group restated a “neutral” rating and set a $11.00 price objective on shares of Topgolf Callaway Brands in a report on Monday, November 24th. Truist Financial upped their price objective on Topgolf Callaway Brands from $10.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Compass Point lifted their target price on Topgolf Callaway Brands from $14.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, January 5th. Finally, Roth Mkm reiterated a “buy” rating and issued a $14.00 price objective on shares of Topgolf Callaway Brands in a research note on Wednesday, November 19th.

Hedge Funds Weigh In On Topgolf Callaway Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bryce Point Capital LLC bought a new stake in shares of Topgolf Callaway Brands during the 2nd quarter worth approximately $762,000. O Keefe Stevens Advisory Inc. raised its position in Topgolf Callaway Brands by 2,528.5% during the third quarter. O Keefe Stevens Advisory Inc. now owns 347,008 shares of the company’s stock valued at $3,297,000 after purchasing an additional 333,806 shares in the last quarter. Hill Path Capital LP bought a new stake in Topgolf Callaway Brands during the second quarter worth $37,722,000. AlphaQuest LLC boosted its holdings in shares of Topgolf Callaway Brands by 353.9% in the 2nd quarter. AlphaQuest LLC now owns 96,433 shares of the company’s stock valued at $776,000 after purchasing an additional 75,187 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Topgolf Callaway Brands by 10,113.7% in the 2nd quarter. Marshall Wace LLP now owns 4,691,786 shares of the company’s stock valued at $37,769,000 after purchasing an additional 4,645,850 shares in the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Stock Performance

MODG opened at $14.59 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.87 and a debt-to-equity ratio of 0.60. Topgolf Callaway Brands has a 12-month low of $5.42 and a 12-month high of $15.02. The business has a 50 day moving average of $12.35 and a 200-day moving average of $10.47. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -1.78 and a beta of 0.92.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.16. Topgolf Callaway Brands had a negative return on equity of 0.13% and a negative net margin of 37.06%.The business had revenue of $465.30 million for the quarter, compared to analysts’ expectations of $903.96 million. During the same quarter in the prior year, the business earned $0.02 EPS. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. On average, equities research analysts expect that Topgolf Callaway Brands will post 0.16 earnings per share for the current year.

Topgolf Callaway Brands announced that its board has authorized a share repurchase plan on Monday, January 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Topgolf Callaway Brands Company Profile

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.