Topgolf Callaway Brands (NYSE:MODG) Hits New 12-Month Low – Here’s Why

by · The Markets Daily

Topgolf Callaway Brands Corp. (NYSE:MODG – Get Free Report)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $5.46 and last traded at $5.57, with a volume of 637816 shares trading hands. The stock had previously closed at $6.02.

Analyst Ratings Changes

A number of analysts have weighed in on MODG shares. Truist Financial decreased their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. Roth Mkm reiterated a “buy” rating and set a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.91.

Read Our Latest Stock Analysis on Topgolf Callaway Brands

Topgolf Callaway Brands Stock Down 2.6 %

The firm has a market cap of $1.08 billion, a P/E ratio of -73.30 and a beta of 1.70. The company has a fifty day simple moving average of $6.95 and a 200-day simple moving average of $8.37. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG – Get Free Report) last released its quarterly earnings data on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The firm had revenue of $924.40 million during the quarter, compared to analyst estimates of $1.13 billion. On average, equities analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Topgolf Callaway Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. Asset Planning Inc acquired a new position in shares of Topgolf Callaway Brands in the 4th quarter valued at $33,000. Sterling Capital Management LLC boosted its position in shares of Topgolf Callaway Brands by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company’s stock worth $36,000 after buying an additional 4,050 shares during the period. KBC Group NV boosted its holdings in Topgolf Callaway Brands by 81.8% in the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after purchasing an additional 3,749 shares during the period. Covestor Ltd boosted its stake in shares of Topgolf Callaway Brands by 147.2% in the 4th quarter. Covestor Ltd now owns 9,286 shares of the company’s stock valued at $73,000 after buying an additional 5,530 shares during the period. Finally, FORA Capital LLC acquired a new position in Topgolf Callaway Brands during the 4th quarter worth approximately $81,000. 84.69% of the stock is currently owned by institutional investors.

About Topgolf Callaway Brands

(Get Free Report)

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.

Read More