Topgolf Callaway Brands (NYSE:CALY) Hits New 12-Month High – Should You Buy?

Topgolf Callaway Brands Corp. (NYSE:CALY) hit a new 52-week high during trading on Thursday . The stock traded as high as $18.52 and last traded at $18.4620, with a volume of 66536 shares trading hands. The stock had previously closed at $18.08.

Analyst Ratings Changes

Several equities research analysts recently commented on CALY shares. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Zacks Research cut shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. The Goldman Sachs Group assumed coverage on shares of Topgolf Callaway Brands in a research note on Thursday, June 11th. They set a “neutral” rating and a $17.00 target price on the stock. Weiss Ratings upgraded Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Finally, UBS Group raised their target price on Topgolf Callaway Brands from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.25.

Topgolf Callaway Brands Stock Up 4.0%

The firm has a market capitalization of $3.46 billion, a PE ratio of 137.35 and a beta of 0.96. The business’s 50-day moving average is $15.93. The company has a current ratio of 2.28, a quick ratio of 1.44 and a debt-to-equity ratio of 0.07.

Topgolf Callaway Brands (NYSE:CALY) last posted its earnings results on Thursday, May 7th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.42 by $0.14. Topgolf Callaway Brands had a net margin of 1.05% and a return on equity of 4.44%. Topgolf Callaway Brands’s quarterly revenue was down 37.1% compared to the same quarter last year. Analysts anticipate that Topgolf Callaway Brands Corp. will post 0.75 earnings per share for the current fiscal year.

About Topgolf Callaway Brands

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.