Topgolf Callaway Brands (NYSE:MODG) PT Raised to $21.00 at B. Riley

Topgolf Callaway Brands (NYSE:MODG) had its price objective lifted by equities research analysts at B. Riley from $18.00 to $21.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 30.03% from the stock’s current price.

MODG has been the subject of a number of other reports. Raymond James lifted their price objective on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Tigress Financial reiterated a “buy” rating and issued a $38.00 target price on shares of Topgolf Callaway Brands in a report on Friday, April 12th. KeyCorp reduced their price target on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Finally, Truist Financial boosted their price objective on Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.91.

Topgolf Callaway Brands Stock Performance

MODG traded up $0.29 during midday trading on Thursday, hitting $16.15. 535,254 shares of the company were exchanged, compared to its average volume of 2,469,385. Topgolf Callaway Brands has a 1-year low of $9.84 and a 1-year high of $22.79. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 1.68 and a beta of 1.84. The company’s 50 day simple moving average is $15.24 and its 200 day simple moving average is $13.95.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The company had revenue of $897.10 million during the quarter, compared to analysts’ expectations of $867.25 million. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.27) earnings per share. As a group, sell-side analysts predict that Topgolf Callaway Brands will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Erik J. Anderson sold 5,000 shares of the company’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 completion of the sale, the director now owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 sale, the director now directly owns 777,959 shares in the company, valued at $11,319,303.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Erik J. Anderson sold 2,028 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the sale, the director now owns 2,242 shares in the company, 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

Hedge funds and other institutional investors have recently bought and sold shares of the company. North Star Investment Management Corp. lifted its position in Topgolf Callaway Brands by 57,166.7% in the fourth quarter. North Star Investment Management Corp. now owns 120,260 shares of the company’s stock worth $1,725,000 after purchasing an additional 120,050 shares during the period. Vanguard Group Inc. boosted its position in Topgolf Callaway Brands by 0.9% in the 3rd 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 increased its stake in shares of Topgolf Callaway Brands by 422.9% in the 4th quarter. State of Alaska Department of Revenue now owns 87,406 shares of the company’s stock valued at $1,253,000 after buying an additional 70,689 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth $1,020,000. Finally, Thompson Investment Management Inc. lifted its stake 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 period. 84.69% of the stock is owned by institutional investors.

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.