Topgolf Callaway Brands (NYSE:CALY) Hits New 52-Week High – Still a Buy?

Shares of Topgolf Callaway Brands Corp. (NYSE:CALY) reached a new 52-week high on Thursday . The company traded as high as $18.51 and last traded at $18.1530, with a volume of 662052 shares. The stock had previously closed at $17.20.

Analysts Set New Price Targets

CALY has been the subject of several recent research reports. UBS Group upped their price target on Topgolf Callaway Brands from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, March 27th. The Goldman Sachs Group initiated coverage on Topgolf Callaway Brands in a research note on Thursday, June 11th. They issued a “neutral” rating and a $17.00 target price for the company. JPMorgan Chase & Co. raised their target price on Topgolf Callaway Brands to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Truist Financial boosted their price target on shares of Topgolf Callaway Brands to $19.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.25.

Topgolf Callaway Brands Trading Up 5.8%

The company has a quick ratio of 1.44, a current ratio of 2.28 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 129.97 and a beta of 0.96. The firm has a fifty day moving average of $15.36.

Topgolf Callaway Brands (NYSE:CALY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.14. Topgolf Callaway Brands had a return on equity of 4.44% and a net margin of 1.05%.Topgolf Callaway Brands’s quarterly revenue was down 37.1% on a year-over-year basis. On average, equities analysts expect that Topgolf Callaway Brands Corp. will post 0.75 EPS for the current 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.