Topgolf Callaway Brands (NYSE:CALY) Downgraded by Zacks Research to “Hold”

Topgolf Callaway Brands (NYSE:CALY) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

CALY has been the topic of several other reports. UBS Group upped their price target on shares of Topgolf Callaway Brands from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings raised shares of Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Topgolf Callaway Brands from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.00.

Topgolf Callaway Brands Stock Performance

CALY stock opened at $15.23 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.28 and a quick ratio of 1.22. The company has a 50-day simple moving average of $14.35. Topgolf Callaway Brands has a 52 week low of $5.86 and a 52 week high of $18.00. The firm has a market capitalization of $2.74 billion, a P/E ratio of 108.79 and a beta of 0.95.

Topgolf Callaway Brands (NYSE:CALY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.56 EPS for the quarter, beating 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 revenue for the quarter was down 37.1% on a year-over-year basis. On average, analysts forecast that Topgolf Callaway Brands will post 0.66 EPS for the current 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.