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

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

Several equities research analysts recently commented on MODG shares. JPMorgan Chase & Co. raised their target price on Topgolf Callaway Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Truist Financial raised their price objective on shares of Topgolf Callaway Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Compass Point boosted their target price on shares of Topgolf Callaway Brands from $14.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, January 5th. Zacks Research cut shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $14.00 price target on shares of Topgolf Callaway Brands in a research note on Wednesday, November 19th.

Topgolf Callaway Brands Price Performance

Shares of NYSE MODG opened at $14.59 on Monday. The company has a market capitalization of $2.68 billion, a PE ratio of -1.78 and a beta of 0.92. The company has a quick ratio of 1.30, a current ratio of 1.87 and a debt-to-equity ratio of 0.60. Topgolf Callaway Brands has a twelve month low of $5.42 and a twelve month high of $15.02. The firm has a fifty day simple moving average of $12.80 and a 200 day simple moving average of $10.64.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16. Topgolf Callaway Brands had a negative return on equity of 0.13% and a negative net margin of 37.06%.The firm had revenue of $465.30 million during the quarter, compared to the consensus estimate of $903.96 million. During the same period last year, the business posted $0.02 EPS. The business’s revenue was down 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Topgolf Callaway Brands will post 0.16 EPS for the current year.

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

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of hedge funds have recently added to or reduced their stakes in MODG. AQR Capital Management LLC raised its holdings in shares of Topgolf Callaway Brands by 113.1% in the first quarter. AQR Capital Management LLC now owns 48,224 shares of the company’s stock valued at $307,000 after purchasing an additional 25,599 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Topgolf Callaway Brands by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,280 shares of the company’s stock worth $555,000 after purchasing an additional 3,564 shares in the last quarter. Empowered Funds LLC grew its position in Topgolf Callaway Brands by 36.5% in the 1st quarter. Empowered Funds LLC now owns 443,748 shares of the company’s stock worth $2,924,000 after purchasing an additional 118,642 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Topgolf Callaway Brands by 5.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 460,109 shares of the company’s stock valued at $3,032,000 after buying an additional 22,211 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Topgolf Callaway Brands during the 1st quarter worth approximately $109,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

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.