Topgolf Callaway Brands (NYSE:MODG) PT Raised to $20.00 at Truist Financial

Topgolf Callaway Brands (NYSE:MODG) had its price target hoisted by Truist Financial from $18.00 to $20.00 in a research note published on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently issued reports on MODG. Raymond James increased their price objective on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an outperform rating in a report on Thursday, January 4th. Tigress Financial reaffirmed a buy rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Finally, KeyCorp lowered 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Topgolf Callaway Brands presently has a consensus rating of Moderate Buy and an average price target of $20.82.

Topgolf Callaway Brands Price Performance

NYSE:MODG opened at $15.86 on Monday. The stock has a market capitalization of $2.91 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 1.72 and a beta of 1.87. Topgolf Callaway Brands has a 52 week low of $9.84 and a 52 week high of $22.79. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39. The stock’s 50-day moving average price is $15.24 and its 200-day moving average price is $13.95.

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

Insiders Place Their Bets

In related news, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the sale, the director now owns 2,242 shares of the company’s stock, valued at $33,159.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of the business’s 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 transaction, the director now directly owns 777,959 shares in the company, valued at approximately $11,319,303.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.79, for a total transaction of $29,994.12. Following the completion of the sale, the director now directly owns 2,242 shares of the company’s stock, valued at approximately $33,159.18. The disclosure for this sale can be found here. Corporate insiders own 11.97% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. North Star Investment Management Corp. lifted its stake in shares of Topgolf Callaway Brands by 57,166.7% in the 4th quarter. North Star Investment Management Corp. now owns 120,260 shares of the company’s stock valued at $1,725,000 after purchasing an additional 120,050 shares during the last quarter. Vanguard Group Inc. lifted its position in Topgolf Callaway Brands by 0.9% in 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 last quarter. State of Alaska Department of Revenue boosted its stake 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 buying an additional 70,689 shares during the period. Louisiana State Employees Retirement System purchased a new position in Topgolf Callaway Brands during the fourth quarter worth about $1,020,000. Finally, Thompson Investment Management Inc. increased its position in shares of Topgolf Callaway Brands by 40.9% during the fourth 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. 84.69% of the stock is currently owned by institutional investors and hedge funds.

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.