Stephens downgraded shares of Topgolf Callaway Brands (NYSE:MODG – Free Report) from an overweight rating to an equal weight rating in a report released on Thursday morning, Marketbeat Ratings reports. Stephens currently has $13.00 price objective on the stock.
Several other brokerages have also recently weighed in on MODG. Morgan Stanley assumed coverage on shares of Topgolf Callaway Brands in a research report on Wednesday, September 27th. They issued an underweight rating and a $12.00 price target for the company. B. Riley restated a buy rating and set a $31.00 price objective on shares of Topgolf Callaway Brands in a research note on Thursday, September 28th. Bank of America cut their target price on Topgolf Callaway Brands from $32.00 to $26.00 in a research note on Wednesday, August 9th. Truist Financial lowered 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. Finally, Compass Point cut their price target on shares of Topgolf Callaway Brands from $34.00 to $31.00 and set a buy rating on the stock in a report on Monday, August 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $20.64.
Topgolf Callaway Brands Trading Down 2.9 %
Topgolf Callaway Brands (NYSE:MODG – Get Free Report) last issued its earnings results on Wednesday, November 8th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. Topgolf Callaway Brands had a net margin of 2.34% and a return on equity of 2.54%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $0.23 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that Topgolf Callaway Brands will post 0.41 earnings per share for the current year.
Insider Activity at Topgolf Callaway Brands
In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $16.29, for a total value of $162,900.00. Following the sale, the director now directly owns 832,959 shares of the company’s stock, valued at $13,568,902.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 11.97% of the stock is owned by insiders.
Institutional Trading of Topgolf Callaway Brands
Hedge funds have recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its position in shares of Topgolf Callaway Brands by 82.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,766 shares of the company’s stock valued at $35,000 after acquiring an additional 796 shares during the period. Bessemer Group Inc. increased its position in shares of Topgolf Callaway Brands by 24.5% in the second quarter. Bessemer Group Inc. now owns 4,613 shares of the company’s stock valued at $91,000 after buying an additional 908 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Topgolf Callaway Brands by 2.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 38,792 shares of the company’s stock valued at $537,000 after buying an additional 1,010 shares in the last quarter. MetLife Investment Management LLC grew its stake in Topgolf Callaway Brands by 0.7% in the 2nd quarter. MetLife Investment Management LLC now owns 156,589 shares of the company’s stock valued at $3,108,000 after acquiring an additional 1,031 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Topgolf Callaway Brands in the 1st quarter worth $29,000. 82.13% of the stock is owned by hedge funds and other institutional investors.
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.
- Five stocks we like better than Topgolf Callaway Brands
- Following Congress Stock Trades
- MarketBeat Week in Review – 11/6 – 11/10
- What Are Defense Contractor Stocks? How to Invest in Defense
- Data giants MongoDB and Snowflake just got upgraded
- 3 Grocery Stocks That Are Proving They Are Still Essential
- Plug Power at tipping point; it’s make or break time for hydrogen
Receive News & Ratings for Topgolf Callaway Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Topgolf Callaway Brands and related companies with MarketBeat.com's FREE daily email newsletter.