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

Topgolf Callaway Brands (NYSE:CALY) had its price target hoisted by equities research analysts at JPMorgan Chase & Co. to $18.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 9.22% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. UBS Group upped their target price on shares of Topgolf Callaway Brands from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, March 27th. Zacks Research downgraded shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings raised shares of Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Wall Street Zen raised 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 assumed coverage on shares of Topgolf Callaway Brands in a research report on Thursday. They issued a “neutral” rating and a $17.00 price objective on the stock. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Topgolf Callaway Brands has an average rating of “Hold” and an average price target of $16.67.

Topgolf Callaway Brands Trading Up 1.4%

CALY traded up $0.22 during trading hours on Thursday, hitting $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 12-month low of $7.64 and a 12-month high of $18.00. The stock’s 50 day moving average price is $15.05. The stock 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 debt-to-equity ratio of 0.07, a quick ratio of 1.44 and a current ratio of 2.28.

Topgolf Callaway Brands (NYSE:CALY) last announced its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share 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 company’s revenue was down 37.1% compared to the same quarter last year. As a group, research analysts expect that Topgolf Callaway Brands will post 0.75 EPS for the current fiscal year.

Topgolf Callaway Brands Company Profile

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.