Topgolf Callaway Brands (NYSE:CALY) Trading Down 5.5% – Here’s Why

Topgolf Callaway Brands Corp. (NYSE:CALY) shares traded down 5.5% during mid-day trading on Monday . The stock traded as low as $14.15 and last traded at $14.32. 371,985 shares were traded during mid-day trading, a decline of 87% from the average session volume of 2,843,184 shares. The stock had previously closed at $15.16.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings assumed coverage on Topgolf Callaway Brands in a research report on Tuesday, March 3rd. They issued a “sell (d-)” rating for the company. UBS Group lifted their price target on Topgolf Callaway Brands from $11.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, March 27th. Finally, Zacks Research raised Topgolf Callaway Brands from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.00.

Topgolf Callaway Brands Stock Performance

The firm has a 50-day moving average price of $14.14. The company has a current ratio of 1.36, a quick ratio of 1.22 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.70 billion, a PE ratio of -46.38 and a beta of 0.95.

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.