Topgolf Callaway Brands (NYSE:MODG) Price Target Raised to $20.00

Topgolf Callaway Brands (NYSE:MODG) had its price objective increased by Truist Financial from $18.00 to $20.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

MODG has been the subject of a number of other research reports. KeyCorp decreased their target price 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. Tigress Financial reaffirmed a buy rating and issued a $38.00 target price on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. Finally, Raymond James boosted their price target on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an outperform rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Topgolf Callaway Brands currently has a consensus rating of Moderate Buy and a consensus price target of $20.82.

Topgolf Callaway Brands Stock Down 1.0 %

Shares of NYSE MODG opened at $15.86 on Monday. The firm’s fifty day moving average is $15.24 and its 200 day moving average is $13.95. Topgolf Callaway Brands has a 52 week low of $9.84 and a 52 week high of $22.79. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 1.72 and a beta of 1.87.

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

Insider Transactions at Topgolf Callaway Brands

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in Topgolf Callaway Brands during the 3rd quarter valued at $882,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Topgolf Callaway Brands by 2.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 38,792 shares of the company’s stock worth $537,000 after purchasing an additional 1,010 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Topgolf Callaway Brands by 6.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 98,730 shares of the company’s stock worth $1,366,000 after purchasing an additional 5,674 shares in the last quarter. Adirondack Retirement Specialists Inc. raised its position in shares of Topgolf Callaway Brands by 87.1% during the 3rd quarter. Adirondack Retirement Specialists Inc. now owns 197,495 shares of the company’s stock valued at $2,733,000 after purchasing an additional 91,940 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Topgolf Callaway Brands by 11.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,445 shares of the company’s stock valued at $421,000 after buying an additional 3,151 shares in the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

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.