Topgolf Callaway Brands Corp. (CALY) – What Are Investment Firms Thinking About This Stock?

Shares of Topgolf Callaway Brands Corp. (NYSE:CALY) have been given an average recommendation of “Hold” by the eight analysts that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $19.83.

CALY has been the subject of several research reports. KeyCorp increased their price target on shares of Topgolf Callaway Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. UBS Group decreased their price objective on shares of Topgolf Callaway Brands from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, September 14th. Weiss Ratings raised shares of Topgolf Callaway Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Wall Street Zen cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Zacks Research cut shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th.

Insider Activity at Topgolf Callaway Brands

In related news, CEO Oliver G. Brewer III sold 1,400 shares of Topgolf Callaway Brands stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $18.00, for a total value of $25,200.00. Following the sale, the chief executive officer owned 200,983 shares of the company’s stock, valued at approximately $3,617,694. The trade was a 0.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Glenn F. Hickey sold 28,843 shares of Topgolf Callaway Brands stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $18.74, for a total transaction of $540,517.82. Following the completion of the sale, the executive vice president directly owned 72,239 shares in the company, valued at $1,353,758.86. This trade represents a 28.53% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 97,717 shares of company stock valued at $1,800,492. 2.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in Topgolf Callaway Brands during the second quarter valued at $31,000. Nykredit A S purchased a new stake in Topgolf Callaway Brands in the second quarter worth $43,000. NewEdge Advisors LLC purchased a new stake in Topgolf Callaway Brands in the second quarter worth $113,000. Park National Corp OH raised its stake in shares of Topgolf Callaway Brands by 6.9% in the third quarter. Park National Corp OH now owns 12,244 shares of the company’s stock valued at $173,000 after buying an additional 792 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in shares of Topgolf Callaway Brands in the second quarter valued at $256,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

Shares of NYSE:CALY opened at $14.16 on Wednesday. Topgolf Callaway Brands has a 1 year low of $8.71 and a 1 year high of $20.28. The company has a market capitalization of $2.53 billion, a PE ratio of 32.94 and a beta of 0.96. The business has a fifty day moving average price of $15.00 and a two-hundred day moving average price of $16.05.

Topgolf Callaway Brands (NYSE:CALY) last released its earnings results on Tuesday, August 4th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The company had revenue of $612.20 million for the quarter. Topgolf Callaway Brands had a return on equity of 5.86% and a net margin of 3.37%. The company’s revenue for the quarter was down 44.9% on a year-over-year basis. Sell-side analysts anticipate that Topgolf Callaway Brands will post 0.75 earnings per share for the current year.

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.