Topgolf Callaway Brands (NYSE:MODG) Receives “Neutral” Rating from B. Riley

Topgolf Callaway Brands (NYSE:MODG)‘s stock had its “neutral” rating reissued by B. Riley in a research note issued to investors on Monday,Benzinga reports. They currently have a $11.00 price target on the stock, up from their previous price target of $9.50. B. Riley’s price objective would indicate a potential upside of 2.87% from the stock’s previous close.

A number of other brokerages have also weighed in on MODG. Zacks Research lowered shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Wall Street Zen upgraded Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Morgan Stanley initiated coverage on Topgolf Callaway Brands in a research note on Friday, July 18th. They issued an “equal weight” rating and a $9.50 target price for the company. UBS Group assumed coverage on shares of Topgolf Callaway Brands in a report on Friday, October 17th. They issued a “neutral” rating and a $10.00 price objective for the company. Finally, Truist Financial lifted their target price on shares of Topgolf Callaway Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Topgolf Callaway Brands has an average rating of “Hold” and an average price target of $10.50.

Topgolf Callaway Brands Stock Performance

NYSE:MODG traded up $0.09 during trading hours on Monday, hitting $10.69. 2,214,202 shares of the company were exchanged, compared to its average volume of 2,747,235. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.25. Topgolf Callaway Brands has a 52-week low of $5.42 and a 52-week high of $10.98. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -1.31 and a beta of 1.19. The company’s 50 day moving average price is $9.40 and its 200-day moving average price is $8.59.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.16. The business had revenue of $465.30 million during the quarter, compared to the consensus estimate of $903.96 million. Topgolf Callaway Brands had a negative net margin of 36.08% and a positive return on equity of 0.37%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 earnings per share. Topgolf Callaway Brands has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts forecast that Topgolf Callaway Brands will post 0.16 earnings per share for the current year.

Insider Buying and Selling at Topgolf Callaway Brands

In related news, CEO Artie Starrs sold 106,734 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $8.64, for a total value of $922,181.76. Following the sale, the chief executive officer owned 105,823 shares in the company, valued at approximately $914,310.72. The trade was a 50.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several institutional investors have recently bought and sold shares of the company. Signaturefd LLC increased its holdings in Topgolf Callaway Brands by 1,669.0% in the second quarter. Signaturefd LLC now owns 3,078 shares of the company’s stock valued at $25,000 after buying an additional 2,904 shares during the last quarter. GAMMA Investing LLC acquired a new position in Topgolf Callaway Brands in the 2nd quarter valued at $36,000. Smartleaf Asset Management LLC boosted its holdings in shares of Topgolf Callaway Brands by 42.3% in the third quarter. Smartleaf Asset Management LLC now owns 3,893 shares of the company’s stock valued at $37,000 after acquiring an additional 1,157 shares in the last quarter. CWM LLC lifted its holdings in Topgolf Callaway Brands by 124.0% in the second quarter. CWM LLC now owns 4,679 shares of the company’s stock valued at $38,000 after acquiring an additional 2,590 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Topgolf Callaway Brands by 24.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,275 shares of the company’s stock worth $51,000 after purchasing an additional 1,240 shares in the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Company Profile

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.