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

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

Several other brokerages have also recently weighed in on MODG. Raymond James boosted their price objective 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. Tigress Financial reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. Finally, KeyCorp reduced their target price 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. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Topgolf Callaway Brands Stock Down 0.3 %

Shares of Topgolf Callaway Brands stock traded down $0.04 during trading on Monday, hitting $15.81. The company’s stock had a trading volume of 202,342 shares, compared to its average volume of 2,482,404. The company has a fifty day simple moving average of $15.18 and a two-hundred day simple moving average of $13.91. Topgolf Callaway Brands has a 52 week low of $9.84 and a 52 week high of $22.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.72. The company has a market capitalization of $2.90 billion, a PE ratio of 34.41, a P/E/G ratio of 1.69 and a beta of 1.87.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $867.25 million. During the same quarter in the previous year, the firm earned ($0.27) EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts predict that Topgolf Callaway Brands will post 0.29 earnings per share for the current year.

Insider Activity at Topgolf Callaway Brands

In other news, Director Erik J. Anderson sold 5,000 shares of the business’s stock in a transaction dated 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 $11,319,303.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Erik J. Anderson sold 2,028 shares of the company’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 value of $29,994.12. Following the sale, the director now directly owns 2,242 shares of the company’s stock, valued at $33,159.18. The disclosure for this sale can be found here. 11.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several hedge funds have recently bought and sold shares of MODG. GAMMA Investing LLC purchased a new stake in Topgolf Callaway Brands in the fourth quarter valued at approximately $44,000. Wolff Wiese Magana LLC grew its position in Topgolf Callaway Brands by 87.8% during the third quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock valued at $46,000 after acquiring an additional 1,551 shares during the period. JFS Wealth Advisors LLC raised its stake in Topgolf Callaway Brands by 6,063.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 4,561 shares of the company’s stock valued at $65,000 after buying an additional 4,487 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Topgolf Callaway Brands by 151.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock worth $100,000 after acquiring an additional 4,362 shares in the last quarter. Finally, Ranch Capital Advisors Inc. acquired a new position in Topgolf Callaway Brands during the third quarter worth $140,000. 84.69% of the stock is currently owned by 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.