Topgolf Callaway Brands (NYSE:MODG) Price Target Raised to $21.00

Topgolf Callaway Brands (NYSE:MODG) had its price target hoisted by B. Riley from $18.00 to $21.00 in a report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Raymond James raised their price target on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an outperform rating in a research note on Thursday, January 4th. Truist Financial lifted their price target on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a buy rating in a research note on Monday, April 29th. Tigress Financial restated a buy rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Finally, KeyCorp decreased their price objective on Topgolf Callaway Brands from $20.00 to $18.00 and set an overweight rating for the company in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $19.91.

Topgolf Callaway Brands Trading Down 0.9 %

MODG opened at $16.00 on Thursday. The stock has a market capitalization of $2.94 billion, a P/E ratio of 34.78, a P/E/G ratio of 1.67 and a beta of 1.84. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. Topgolf Callaway Brands has a 12 month low of $9.84 and a 12 month high of $22.60. The firm’s fifty day simple moving average is $15.34 and its 200 day simple moving average is $14.00.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The company had revenue of $897.10 million for the quarter, compared to analyst estimates of $867.25 million. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.27) earnings per share. As a group, research analysts anticipate that Topgolf Callaway Brands will post 0.29 EPS for the current fiscal year.

Insider Activity

In related news, Director Erik J. Anderson sold 2,028 shares of Topgolf Callaway Brands stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.79, for a total transaction of $29,994.12. Following the completion of the transaction, the director now owns 2,242 shares in the company, valued at $33,159.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.79, for a total transaction of $29,994.12. Following the completion of the sale, the director now owns 2,242 shares of the company’s stock, valued at approximately $33,159.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the company’s 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 completion of the transaction, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new position in shares of Topgolf Callaway Brands during the fourth quarter worth approximately $44,000. Wolff Wiese Magana LLC increased its position in Topgolf Callaway Brands by 87.8% during the 3rd quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock worth $46,000 after buying an additional 1,551 shares during the period. JFS Wealth Advisors LLC increased its position in Topgolf Callaway Brands by 6,063.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 4,561 shares of the company’s stock worth $65,000 after buying an additional 4,487 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Topgolf Callaway Brands by 151.5% during the third quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock worth $100,000 after buying an additional 4,362 shares in the last quarter. Finally, Ranch Capital Advisors Inc. bought a new stake in shares of Topgolf Callaway Brands in the third quarter valued at about $140,000. 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.