Topgolf Callaway Brands Corp. (NYSE:MODG) Given Consensus Rating of “Hold” by Brokerages

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have received an average rating of “Hold” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $12.9444.

MODG has been the topic of a number of recent research reports. Morgan Stanley set a $15.00 target price on Topgolf Callaway Brands in a research note on Thursday, January 15th. UBS Group reaffirmed a “neutral” rating and set a $11.00 price target on shares of Topgolf Callaway Brands in a research note on Monday, November 24th. KeyCorp set a $17.00 price target on shares of Topgolf Callaway Brands and gave the stock an “overweight” rating in a report on Friday, January 16th. Truist Financial upped their price objective on shares of Topgolf Callaway Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Topgolf Callaway Brands in a research note on Monday, December 29th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new stake in Topgolf Callaway Brands during the fourth quarter worth about $27,000. Farther Finance Advisors LLC boosted its stake in Topgolf Callaway Brands by 79.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,710 shares of the company’s stock valued at $32,000 after acquiring an additional 1,201 shares during the last quarter. Johnson Financial Group Inc. increased its holdings in Topgolf Callaway Brands by 5,092.9% in the third quarter. Johnson Financial Group Inc. now owns 3,635 shares of the company’s stock valued at $35,000 after buying an additional 3,565 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Topgolf Callaway Brands by 42.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,893 shares of the company’s stock valued at $37,000 after acquiring an additional 1,157 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Topgolf Callaway Brands by 124.0% during the second quarter. CWM LLC now owns 4,679 shares of the company’s stock worth $38,000 after purchasing an additional 2,590 shares during the period. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Price Performance

MODG stock opened at $14.59 on Friday. The firm has a 50 day moving average of $13.54 and a 200-day moving average of $11.15. The company has a market cap of $2.68 billion, a price-to-earnings ratio of -1.78 and a beta of 0.92. The company has a current ratio of 1.87, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. Topgolf Callaway Brands has a 12-month low of $5.42 and a 12-month high of $15.02.

Topgolf Callaway Brands announced that its Board of Directors has approved a share buyback plan on Monday, January 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 9.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.