Analysts Set Topgolf Callaway Brands Corp. (NYSE:MODG) Price Target at $18.90

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $18.90.

MODG has been the topic of a number of research reports. Raymond James upped their price target on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. KeyCorp decreased their target price on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th.

Insider Buying and Selling

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total transaction of $72,750.00. Following the transaction, the director now directly owns 777,959 shares in the company, valued at approximately $11,319,303.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Erik J. Anderson sold 2,028 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.79, for a total transaction of $29,994.12. Following the completion of the sale, the director now directly owns 2,242 shares of the company’s stock, valued at $33,159.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Erik J. Anderson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the sale, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in MODG. Steward Partners Investment Advisory LLC bought a new stake in Topgolf Callaway Brands in the first quarter worth about $29,000. Advisory Services Network LLC bought a new stake in shares of Topgolf Callaway Brands in the 1st quarter worth approximately $30,000. GAMMA Investing LLC bought a new stake in shares of Topgolf Callaway Brands in the 4th quarter worth approximately $44,000. KBC Group NV bought a new position in Topgolf Callaway Brands during the fourth quarter valued at $45,000. Finally, Wolff Wiese Magana LLC grew its holdings in Topgolf Callaway Brands by 87.8% during the third quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock valued at $46,000 after purchasing an additional 1,551 shares during the period. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Up 0.1 %

NYSE:MODG opened at $16.16 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average price is $14.28 and its two-hundred day moving average price is $13.69. Topgolf Callaway Brands has a twelve month low of $9.84 and a twelve month high of $23.01. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 1.67 and a beta of 1.86.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The firm had revenue of $897.10 million for the quarter, compared to analyst estimates of $867.25 million. During the same quarter in the prior year, the company earned ($0.27) earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts expect that Topgolf Callaway Brands will post 0.28 earnings per share for the current fiscal year.

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.