Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $20.64 Average Target Price from Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $20.64.

MODG has been the subject of a number of recent analyst reports. Tigress Financial reaffirmed a “buy” rating and set a $38.00 target price on shares of Topgolf Callaway Brands in a report on Friday, April 12th. KeyCorp cut their price objective on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Finally, Raymond James upped 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.

Insiders Place Their Bets

In other news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction 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 sale, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.79, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Erik J. Anderson sold 5,000 shares of the firm’s 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 completion of the transaction, 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. 11.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in shares of Topgolf Callaway Brands in the first quarter worth about $76,000. LPL Financial LLC bought a new position in shares of Topgolf Callaway Brands in the first quarter worth about $842,000. Guggenheim Capital LLC bought a new position in shares of Topgolf Callaway Brands in the first quarter worth about $332,000. Commonwealth Equity Services LLC bought a new position in shares of Topgolf Callaway Brands in the first quarter worth about $466,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Topgolf Callaway Brands in the first quarter worth about $1,080,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Trading Down 1.7 %

NYSE MODG opened at $15.41 on Tuesday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 1.66 and a beta of 1.87. Topgolf Callaway Brands has a one year low of $9.84 and a one year high of $23.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88. The business’s fifty day moving average is $15.00 and its 200-day moving average is $13.80.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $867.25 million. During the same period in the previous year, the business posted ($0.27) EPS. The firm’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 EPS for the current year.

Topgolf Callaway Brands Company Profile

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.