JPMorgan Chase & Co. Boosts Topgolf Callaway Brands (NYSE:CALY) Price Target to $18.00

Topgolf Callaway Brands (NYSE:CALY) had its price target lifted by JPMorgan Chase & Co. to $18.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 9.22% from the stock’s current price.

Several other analysts have also recently commented on the stock. Weiss Ratings upgraded shares of Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. The Goldman Sachs Group began coverage on shares of Topgolf Callaway Brands in a research note on Thursday. They issued a “neutral” rating and a $17.00 price objective for the company. UBS Group raised their price objective on shares of Topgolf Callaway Brands from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, March 27th. Finally, Zacks Research cut shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.67.

Topgolf Callaway Brands Stock Up 1.4%

NYSE:CALY traded up $0.22 during trading hours on Thursday, reaching $16.48. 221,740 shares of the company’s stock were exchanged, compared to its average volume of 2,917,623. Topgolf Callaway Brands has a 1-year low of $7.64 and a 1-year high of $18.00. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 118.12 and a beta of 0.96. The company has a quick ratio of 1.44, a current ratio of 2.28 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average is $15.05.

Topgolf Callaway Brands (NYSE:CALY) last released its earnings results on Thursday, May 7th. The company reported $0.56 EPS for the quarter, topping the consensus estimate 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 for the quarter was down 37.1% on a year-over-year basis. Research analysts forecast that Topgolf Callaway Brands will post 0.75 EPS for the current fiscal year.

About Topgolf Callaway Brands

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.