Topgolf Callaway Brands (NYSE:MODG) Price Target Increased to $21.00 by Analysts at B. Riley

Topgolf Callaway Brands (NYSE:MODG) had its price target boosted by B. Riley from $18.00 to $21.00 in a research report released on Thursday, Benzinga reports. B. Riley currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on MODG. Truist Financial increased their price target on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a buy rating in a report on Monday, April 29th. Raymond James raised their price target on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an outperform rating in a report on Thursday, January 4th. KeyCorp dropped their price objective on Topgolf Callaway Brands from $20.00 to $18.00 and set an overweight rating on the stock in a report on Wednesday, February 14th. Finally, Tigress Financial reissued a buy rating and issued a $38.00 target price on shares of Topgolf Callaway Brands in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $19.91.

Topgolf Callaway Brands Stock Performance

Shares of NYSE:MODG traded down $0.14 during trading on Thursday, reaching $16.00. The company had a trading volume of 1,160,300 shares, compared to its average volume of 1,492,764. Topgolf Callaway Brands has a fifty-two week low of $9.84 and a fifty-two week high of $22.60. 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 stock’s fifty day moving average price is $15.34 and its 200 day moving average price is $14.00. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 1.69 and a beta of 1.84.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The firm had revenue of $897.10 million for the quarter, compared to analyst estimates of $867.25 million. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. Topgolf Callaway Brands’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted ($0.27) EPS. As a group, equities research analysts predict that Topgolf Callaway Brands will post 0.29 EPS for the current year.

Insiders Place Their Bets

In related news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were 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 approximately $11,319,303.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the firm’s 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 completion of the transaction, the director now owns 2,242 shares of the company’s stock, valued at $33,159.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Erik J. Anderson sold 5,000 shares of the business’s 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 completion of the transaction, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is owned by company insiders.

Institutional Trading of Topgolf Callaway Brands

A number of large investors have recently made changes to their positions in MODG. North Star Investment Management Corp. boosted its stake in shares of Topgolf Callaway Brands by 57,166.7% during the 4th quarter. North Star Investment Management Corp. now owns 120,260 shares of the company’s stock worth $1,725,000 after purchasing an additional 120,050 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Topgolf Callaway Brands by 0.9% during the third quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company’s stock valued at $187,636,000 after buying an additional 116,267 shares during the period. State of Alaska Department of Revenue boosted its position in Topgolf Callaway Brands by 422.9% during the fourth quarter. State of Alaska Department of Revenue now owns 87,406 shares of the company’s stock worth $1,253,000 after acquiring an additional 70,689 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Topgolf Callaway Brands in the 4th quarter worth approximately $1,020,000. Finally, Thompson Investment Management Inc. raised its holdings in Topgolf Callaway Brands by 40.9% in the 4th quarter. Thompson Investment Management Inc. now owns 355,344 shares of the company’s stock valued at $5,096,000 after acquiring an additional 103,134 shares during the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

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.