Brokerages Set Topgolf Callaway Brands Corp. (NYSE:MODG) Target Price at $12.94

Topgolf Callaway Brands Corp. (NYSE:MODG) has been assigned an average rating of “Hold” from the eleven analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $12.9444.

Several research firms recently weighed in on MODG. Compass Point upped their price target on shares of Topgolf Callaway Brands from $14.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Topgolf Callaway Brands in a report on Monday, December 29th. Truist Financial raised their target price on Topgolf Callaway Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. UBS Group reiterated a “neutral” rating and set a $11.00 price target on shares of Topgolf Callaway Brands in a research report on Monday, November 24th. Finally, Roth Mkm reissued a “buy” rating and issued a $14.00 price objective on shares of Topgolf Callaway Brands in a research note on Wednesday, November 19th.

Institutional Trading of Topgolf Callaway Brands

Several large investors have recently bought and sold shares of MODG. O Keefe Stevens Advisory Inc. increased its holdings in shares of Topgolf Callaway Brands by 2,528.5% in the third quarter. O Keefe Stevens Advisory Inc. now owns 347,008 shares of the company’s stock valued at $3,297,000 after purchasing an additional 333,806 shares during the last quarter. Bryce Point Capital LLC purchased a new stake in Topgolf Callaway Brands in the 2nd quarter valued at $762,000. Hill Path Capital LP purchased a new stake in Topgolf Callaway Brands in the 2nd quarter valued at $37,722,000. AlphaQuest LLC increased its stake in shares of Topgolf Callaway Brands by 353.9% in the 2nd quarter. AlphaQuest LLC now owns 96,433 shares of the company’s stock worth $776,000 after acquiring an additional 75,187 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Topgolf Callaway Brands by 10,113.7% during the 2nd quarter. Marshall Wace LLP now owns 4,691,786 shares of the company’s stock worth $37,769,000 after acquiring an additional 4,645,850 shares during the period. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Performance

MODG opened at $14.59 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.87 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.68 billion, a price-to-earnings ratio of -1.78 and a beta of 0.92. Topgolf Callaway Brands has a 52-week low of $5.42 and a 52-week high of $15.02. The firm’s fifty day simple moving average is $13.73 and its two-hundred day simple moving average is $11.30.

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 repurchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

About Topgolf Callaway Brands

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.