Topgolf Callaway Brands (NYSE:MODG) Price Target Raised to $13.00 at TD Cowen

Topgolf Callaway Brands (NYSE:MODG) had its price target raised by TD Cowen from $10.00 to $13.00 in a research note published on Monday, Benzinga reports. TD Cowen currently has a hold rating on the stock.

Other equities analysts also recently issued research reports about the stock. Tigress Financial restated a buy rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a report on Friday, April 12th. Truist Financial lifted their price objective on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a buy rating in a research note on Monday, April 29th. B. Riley upped their target price on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Finally, KeyCorp dropped their price target on Topgolf Callaway Brands from $20.00 to $18.00 and set an overweight rating on the stock in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $19.33.

Topgolf Callaway Brands Stock Up 1.1 %

Shares of MODG stock traded up $0.17 during mid-day trading on Monday, hitting $15.46. 87,925 shares of the stock traded hands, compared to its average volume of 2,455,019. The stock’s fifty day moving average is $15.53 and its two-hundred day moving average is $14.13. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.82 and a quick ratio of 1.02. Topgolf Callaway Brands has a 52-week low of $9.84 and a 52-week high of $20.75. The stock has a market cap of $2.84 billion, a P/E ratio of 41.33, a P/E/G ratio of 2.51 and a beta of 1.84.

Topgolf Callaway Brands (NYSE:MODG) last announced its earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. Topgolf Callaway Brands had a net margin of 1.80% and a return on equity of 1.93%. Topgolf Callaway Brands’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.17 earnings per share. Equities analysts predict that Topgolf Callaway Brands will post 0.34 EPS for the current year.

Insider Buying and Selling

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the sale, the director now owns 777,959 shares of the company’s stock, valued at approximately $11,319,303.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Erik J. Anderson sold 5,000 shares of the company’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 completion of the sale, the director now directly owns 777,959 shares in the company, valued at $11,319,303.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erik J. Anderson sold 2,028 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the transaction, the director now directly owns 2,242 shares in the company, valued at approximately $33,159.18. The disclosure for this sale can be found here. 2.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MODG. CANADA LIFE ASSURANCE Co lifted its position in shares of Topgolf Callaway Brands by 9.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 180,618 shares of the company’s stock worth $2,918,000 after purchasing an additional 15,294 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in Topgolf Callaway Brands during the 1st quarter worth approximately $643,000. Vanguard Group Inc. lifted its holdings in Topgolf Callaway Brands by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after buying an additional 81,021 shares in the last quarter. GM Advisory Group LLC boosted its position in Topgolf Callaway Brands by 20.6% in the 1st quarter. GM Advisory Group LLC now owns 87,200 shares of the company’s stock valued at $1,410,000 after buying an additional 14,900 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of Topgolf Callaway Brands by 2.0% in the first quarter. Blair William & Co. IL now owns 96,389 shares of the company’s stock worth $1,559,000 after acquiring an additional 1,899 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.

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.