Topgolf Callaway Brands (NYSE:CALY) Price Target Raised to $22.00

Topgolf Callaway Brands (NYSE:CALY) had its price objective raised by KeyCorp from $19.00 to $22.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on CALY. UBS Group increased their target price on shares of Topgolf Callaway Brands from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Weiss Ratings upgraded Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Zacks Research raised Topgolf Callaway Brands from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, The Goldman Sachs Group began coverage on shares of Topgolf Callaway Brands in a research note on Thursday, June 11th. They issued a “neutral” rating and a $17.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Topgolf Callaway Brands currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Topgolf Callaway Brands Trading Up 1.4%

Shares of NYSE CALY opened at $17.62 on Wednesday. The firm has a market capitalization of $3.14 billion, a P/E ratio of 40.97 and a beta of 0.93. Topgolf Callaway Brands has a 1-year low of $8.00 and a 1-year high of $20.28. The business’s fifty day moving average is $17.86.

Topgolf Callaway Brands (NYSE:CALY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Topgolf Callaway Brands had a return on equity of 5.86% and a net margin of 3.37%.The business had revenue of $612.20 million during the quarter. Topgolf Callaway Brands’s quarterly revenue was down 44.9% on a year-over-year basis. On average, research analysts expect that Topgolf Callaway Brands will post 0.75 EPS for the current 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.