Analysts Set Topgolf Callaway Brands Corp. (NYSE:MODG) Target Price at $18.90

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $18.90.

A number of analysts have weighed in on MODG shares. Raymond James increased their target price on Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. KeyCorp reduced 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 research note on Wednesday, February 14th.

Topgolf Callaway Brands Price Performance

Topgolf Callaway Brands stock opened at $16.16 on Friday. Topgolf Callaway Brands has a 12-month low of $9.84 and a 12-month high of $23.01. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $14.28 and a 200-day moving average price of $13.69. The firm has a market capitalization of $2.97 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 1.67 and a beta of 1.86.

Topgolf Callaway Brands (NYSE:MODG) last announced its earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The business had revenue of $897.10 million during the quarter, compared to analyst estimates of $867.25 million. During the same quarter in the previous year, the business earned ($0.27) earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Topgolf Callaway Brands will post 0.28 EPS for the current year.

Insider Activity

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the transaction, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the business’s 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 of the company’s stock, valued at approximately $33,159.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the sale, 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. Company insiders own 11.97% of the company’s stock.

Institutional Trading of Topgolf Callaway Brands

Several large investors have recently made changes to their positions in MODG. Vanguard Group Inc. boosted its stake in shares of Topgolf Callaway Brands by 13.6% in the fourth quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock worth $220,884,000 after buying an additional 1,845,864 shares during the last quarter. Sierra Summit Advisors LLC acquired a new stake in shares of Topgolf Callaway Brands in the fourth quarter worth approximately $213,000. Polen Capital Management LLC acquired a new stake in Topgolf Callaway Brands during the 4th quarter worth $1,874,000. Price T Rowe Associates Inc. MD boosted its position in Topgolf Callaway Brands by 3.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 79,311 shares of the company’s stock worth $1,138,000 after acquiring an additional 2,933 shares during the last quarter. Finally, Spouting Rock Asset Management LLC acquired a new position in shares of Topgolf Callaway Brands during the 4th quarter worth approximately $412,000. 84.69% of the stock is 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.