Truist Financial Raises Topgolf Callaway Brands (NYSE:MODG) Price Target to $20.00

Topgolf Callaway Brands (NYSE:MODG) had its target price increased by stock analysts at Truist Financial from $18.00 to $20.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 26.50% from the company’s previous close.

A number of other research firms have also recently weighed in on MODG. KeyCorp lowered their price target on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Raymond James lifted their target price 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. Finally, Tigress Financial reiterated a “buy” rating and set a $38.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Topgolf Callaway Brands has an average rating of “Moderate Buy” and an average target price of $20.82.

Topgolf Callaway Brands Trading Down 0.3 %

Shares of MODG stock traded down $0.04 on Monday, hitting $15.81. 202,342 shares of the company’s stock traded hands, compared to its average volume of 2,482,404. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.72. Topgolf Callaway Brands has a one year low of $9.84 and a one year high of $22.79. The company’s fifty day simple moving average is $15.18 and its 200 day simple moving average is $13.91. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 1.69 and a beta of 1.87.

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

Insider Activity

In related news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total transaction of $72,750.00. Following the sale, the director now owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the completion of the sale, the director now directly owns 777,959 shares in the company, valued at $11,319,303.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Erik J. Anderson sold 2,028 shares of Topgolf Callaway Brands stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the transaction, the director now directly owns 2,242 shares in the company, valued at approximately $33,159.18. The disclosure for this sale can be found here. Corporate insiders own 11.97% of the company’s stock.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several institutional investors have recently bought and sold shares of MODG. North Star Investment Management Corp. increased its holdings in shares of Topgolf Callaway Brands by 57,166.7% in the fourth quarter. North Star Investment Management Corp. now owns 120,260 shares of the company’s stock worth $1,725,000 after purchasing an additional 120,050 shares during the last quarter. Vanguard Group Inc. raised its stake in Topgolf Callaway Brands by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company’s stock worth $187,636,000 after acquiring an additional 116,267 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Topgolf Callaway Brands by 422.9% during the 4th quarter. State of Alaska Department of Revenue now owns 87,406 shares of the company’s stock valued at $1,253,000 after buying an additional 70,689 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Topgolf Callaway Brands during the 4th quarter valued at about $1,020,000. Finally, Thompson Investment Management Inc. boosted its holdings in shares of Topgolf Callaway Brands by 40.9% during the 4th quarter. Thompson Investment Management Inc. now owns 355,344 shares of the company’s stock worth $5,096,000 after purchasing an additional 103,134 shares during the last quarter. 84.69% of the stock is currently 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. 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.