Topgolf Callaway Brands Corp. (NYSE:CALY) Stock Has Average Target Price of $19.83

Shares of Topgolf Callaway Brands Corp. (NYSE:CALY) have received a consensus rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $19.83.

A number of analysts have weighed in on the stock. UBS Group decreased their target price on shares of Topgolf Callaway Brands from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, September 14th. B. Riley Financial reiterated a “buy” rating and issued a $23.00 price target (up from $19.00) on shares of Topgolf Callaway Brands in a research note on Wednesday, August 5th. Zacks Research cut Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Truist Financial raised their price objective on Topgolf Callaway Brands from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, September 1st. Finally, Weiss Ratings upgraded Topgolf Callaway Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th.

Topgolf Callaway Brands Price Performance

CALY stock opened at $13.81 on Wednesday. The company has a 50 day simple moving average of $15.37 and a 200 day simple moving average of $16.04. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 32.12 and a beta of 0.96. Topgolf Callaway Brands has a 1 year low of $8.65 and a 1 year high of $20.28.

Topgolf Callaway Brands (NYSE:CALY) last issued its quarterly earnings data 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 net margin of 3.37% and a return on equity of 5.86%. The business had revenue of $612.20 million during the quarter. Topgolf Callaway Brands’s revenue for the quarter was down 44.9% on a year-over-year basis. On average, equities research analysts anticipate that Topgolf Callaway Brands will post 0.75 EPS for the current fiscal year.

Insider Activity

In other Topgolf Callaway Brands news, EVP Glenn Hickey sold 28,843 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $18.74, for a total value of $540,517.82. Following the completion of the transaction, the executive vice president directly owned 72,239 shares in the company, valued at approximately $1,353,758.86. This trade represents a 28.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Oliver Brewer, III sold 67,474 shares of Topgolf Callaway Brands stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $18.30, for a total value of $1,234,774.20. Following the sale, the chief executive officer directly owned 201,276 shares in the company, valued at $3,683,350.80. The trade was a 25.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 97,717 shares of company stock valued at $1,800,492 over the last quarter. Corporate insiders own 2.91% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new stake in Topgolf Callaway Brands during the 2nd quarter worth approximately $31,000. Nykredit A S bought a new stake in Topgolf Callaway Brands during the 2nd quarter worth approximately $43,000. NewEdge Advisors LLC acquired a new position in Topgolf Callaway Brands in the 2nd quarter valued at approximately $113,000. Park National Corp OH increased its position in Topgolf Callaway Brands by 6.9% in the 3rd quarter. Park National Corp OH now owns 12,244 shares of the company’s stock valued at $173,000 after acquiring an additional 792 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in Topgolf Callaway Brands in the 2nd quarter valued at approximately $256,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Company Profile

Topgolf Callaway Brands is a golf and active-lifestyle company built around golf equipment, apparel, accessories and entertainment experiences. Its portfolio has included Callaway golf clubs and balls, Odyssey putters and wedges, OGIO bags and accessories, and TravisMathew apparel and footwear. The company has also operated Topgolf, a technology-enabled golf entertainment business combining driving ranges, games, food and beverages, and event spaces.

The company traces its roots to Callaway Golf, founded in 1982 by Ely Callaway Jr.