Topgolf Callaway Brands Corp. (NYSE:MODG) Given Average Rating of “Moderate Buy” by Brokerages

Topgolf Callaway Brands Corp. (NYSE:MODG) has earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $28.11.

Several analysts have commented on the stock. The Goldman Sachs Group decreased their price target on shares of Topgolf Callaway Brands from $29.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, August 11th. Truist Financial cut their price target on shares of Topgolf Callaway Brands from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Compass Point lowered their target price on Topgolf Callaway Brands from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday, August 21st. Bank of America dropped their price objective on shares of Topgolf Callaway Brands from $32.00 to $26.00 in a research note on Wednesday, August 9th. Finally, Stephens dropped their target price on Topgolf Callaway Brands from $33.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 9th.

Topgolf Callaway Brands Stock Down 0.2 %

Shares of MODG stock opened at $17.41 on Monday. The company has a 50 day simple moving average of $18.61 and a two-hundred day simple moving average of $20.04. The stock has a market cap of $3.23 billion, a P/E ratio of 32.85, a P/E/G ratio of 1.85 and a beta of 1.77. Topgolf Callaway Brands has a 12 month low of $16.13 and a 12 month high of $25.96. The company has a current ratio of 1.78, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. Topgolf Callaway Brands had a return on equity of 2.74% and a net margin of 2.58%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.19 billion. On average, research analysts expect that Topgolf Callaway Brands will post 0.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $17.01, for a total value of $85,050.00. Following the transaction, the director now directly owns 842,959 shares of the company’s stock, valued at $14,338,732.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Erik J. Anderson sold 5,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $17.01, for a total transaction of $85,050.00. Following the completion of the transaction, the director now owns 842,959 shares of the company’s stock, valued at $14,338,732.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Erik J. Anderson sold 15,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $17.51, for a total transaction of $262,650.00. Following the transaction, the director now owns 847,959 shares of the company’s stock, valued at $14,847,762.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,000 shares of company stock valued at $510,600. 11.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Topgolf Callaway Brands by 26.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,096,863 shares of the company’s stock valued at $160,724,000 after purchasing an additional 1,690,638 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Topgolf Callaway Brands by 3.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,918,317 shares of the company’s stock valued at $97,629,000 after acquiring an additional 167,973 shares in the last quarter. State Street Corp raised its holdings in Topgolf Callaway Brands by 1.3% in the 2nd quarter. State Street Corp now owns 4,718,225 shares of the company’s stock valued at $93,657,000 after acquiring an additional 62,540 shares during the last quarter. Boston Partners purchased a new position in Topgolf Callaway Brands in the 1st quarter worth approximately $93,883,000. Finally, Fisher Asset Management LLC acquired a new position in shares of Topgolf Callaway Brands during the 1st quarter worth approximately $67,824,000. Institutional investors and hedge funds own 82.13% of the company’s stock.

About Topgolf Callaway Brands

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. It operates through three segments: Topgolf; Golf Equipment; and Active Lifestyle. 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.