Topgolf Callaway Brands (NYSE:CALY) Stock Rating Upgraded by Wall Street Zen

Topgolf Callaway Brands (NYSE:CALY) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms have also issued reports on CALY. Zacks Research upgraded Topgolf Callaway Brands from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. The Goldman Sachs Group boosted their price target on Topgolf Callaway Brands from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. B. Riley Financial reissued a “buy” rating and set a $23.00 price objective (up from $19.00) on shares of Topgolf Callaway Brands in a report on Wednesday, August 5th. UBS Group reduced their price objective on Topgolf Callaway Brands from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, September 14th. Finally, KeyCorp upped their price objective on shares of Topgolf Callaway Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.83.

Topgolf Callaway Brands Trading Up 5.4%

Shares of CALY stock opened at $16.78 on Friday. The firm has a market capitalization of $3.00 billion, a PE ratio of 22.08 and a beta of 0.98. Topgolf Callaway Brands has a 12 month low of $9.24 and a 12 month high of $20.28. The firm has a fifty day simple moving average of $14.78 and a two-hundred day simple moving average of $15.67.

Topgolf Callaway Brands (NYSE:CALY) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.01 by $0.11. Topgolf Callaway Brands had a net margin of 3.37% and a return on equity of 5.86%. The firm had revenue of $436.90 million during the quarter. The firm’s revenue for the quarter was down 53.2% compared to the same quarter last year. On average, equities analysts predict that Topgolf Callaway Brands will post 0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in shares of Topgolf Callaway Brands by 4.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 616,336 shares of the company’s stock valued at $8,684,000 after buying an additional 27,251 shares in the last quarter. Fifth Third Bancorp raised its stake in Topgolf Callaway Brands by 305.9% during the 3rd quarter. Fifth Third Bancorp now owns 118,601 shares of the company’s stock valued at $1,671,000 after acquiring an additional 89,380 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Topgolf Callaway Brands by 73.6% during the 3rd quarter. Maryland State Retirement & Pension System now owns 34,443 shares of the company’s stock valued at $485,000 after buying an additional 14,600 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Topgolf Callaway Brands by 2.3% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 71,653 shares of the company’s stock worth $1,010,000 after buying an additional 1,598 shares in the last quarter. Finally, Keybank National Association OH grew its holdings in Topgolf Callaway Brands by 95.7% during the third quarter. Keybank National Association OH now owns 30,992 shares of the company’s stock valued at $437,000 after purchasing an additional 15,155 shares during the period. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Company Profile

Topgolf Callaway Brands is a golf and active-lifestyle company formed through Callaway Golf Company’s acquisition of Topgolf, which was completed in 2021. The company has combined traditional golf equipment and apparel operations with Topgolf’s technology-enabled entertainment venues.

Its golf portfolio has included Callaway and Odyssey golf clubs, golf balls, wedges, putters and accessories, along with apparel and lifestyle products sold under brands such as TravisMathew and OGIO. Topgolf venues provide golf entertainment, food and beverage service, event hosting and digitally supported play for both experienced golfers and newcomers.

Based in Carlsbad, California, the company has served customers through sporting-goods retailers, specialty golf shops, mass merchants, e-commerce platforms and direct-to-consumer channels.