Topgolf Callaway Brands (NYSE:MODG) Receives Buy Rating from Tigress Financial

Tigress Financial reiterated their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG) in a research note released on Friday, Benzinga reports. Tigress Financial currently has a $38.00 target price on the stock.

Several other equities research analysts have also recently weighed in on the stock. KeyCorp lowered their price objective on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an overweight rating for the company in a research report on Wednesday, February 14th. Raymond James lifted their price target on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an outperform rating in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $20.64.

Topgolf Callaway Brands Trading Down 1.9 %

Shares of MODG stock opened at $15.70 on Friday. Topgolf Callaway Brands has a 12-month low of $9.84 and a 12-month high of $23.01. The company has a market capitalization of $2.88 billion, a P/E ratio of 34.13, a P/E/G ratio of 1.75 and a beta of 1.87. The firm has a 50-day moving average price of $14.86 and a 200 day moving average price of $13.76. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. The firm had revenue of $897.10 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted ($0.27) EPS. Research analysts forecast that Topgolf Callaway Brands will post 0.28 earnings per share for the current fiscal year.

Insider Activity at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the transaction, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of Topgolf Callaway Brands stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the transaction, the director now owns 2,242 shares of the company’s stock, valued at $33,159.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the transaction, the director now directly owns 777,959 shares in the company, valued at approximately $11,319,303.45. The disclosure for this sale can be found here. Corporate insiders own 11.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Topgolf Callaway Brands by 13.6% in the fourth quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock valued at $220,884,000 after buying an additional 1,845,864 shares in the last quarter. Shapiro Capital Management LLC lifted its position in shares of Topgolf Callaway Brands by 651.6% in the third quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company’s stock worth $133,683,000 after purchasing an additional 8,373,946 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Topgolf Callaway Brands by 3.5% in the second quarter. Goldman Sachs Group Inc. now owns 4,918,317 shares of the company’s stock worth $97,629,000 after purchasing an additional 167,973 shares in the last quarter. State Street Corp lifted its position in shares of Topgolf Callaway Brands by 1.3% in the second quarter. State Street Corp now owns 4,718,225 shares of the company’s stock worth $93,657,000 after purchasing an additional 62,540 shares in the last quarter. Finally, Geode Capital Management LLC bought a new stake in shares of Topgolf Callaway Brands in the first quarter worth $57,769,000. Institutional investors own 84.69% of the company’s stock.

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.