Topgolf Callaway Brands (NYSE:CALY) Hits New 1-Year High – Here’s Why

Topgolf Callaway Brands Corp. (NYSE:CALY) shares reached a new 52-week high on Thursday . The stock traded as high as $18.52 and last traded at $18.4620, with a volume of 66536 shares traded. The stock had previously closed at $18.08.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective on Topgolf Callaway Brands from $11.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, March 27th. Wall Street Zen raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Truist Financial raised their target price on Topgolf Callaway Brands to $19.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Zacks Research cut Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. increased their price objective on Topgolf Callaway Brands to $18.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.25.

Topgolf Callaway Brands Stock Performance

The firm has a market capitalization of $3.31 billion, a P/E ratio of 131.28 and a beta of 0.96. The company has a current ratio of 2.28, a quick ratio of 1.44 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $15.74.

Topgolf Callaway Brands (NYSE:CALY) last released its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.14. Topgolf Callaway Brands had a net margin of 1.05% and a return on equity of 4.44%. The firm’s revenue was down 37.1% compared to the same quarter last year. On average, analysts predict that Topgolf Callaway Brands Corp. will post 0.75 EPS for the current year.

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.