B. Riley Boosts Topgolf Callaway Brands (NYSE:MODG) Price Target to $21.00

Topgolf Callaway Brands (NYSE:MODG) had its price target hoisted by B. Riley from $18.00 to $21.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the company. Tigress Financial restated a buy rating and issued a $38.00 target price on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. KeyCorp dropped their target price on 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 raised their price target on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an outperform rating in a report on Thursday, January 4th. 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 report on Monday, April 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $19.91.

Topgolf Callaway Brands Stock Performance

NYSE MODG opened at $16.00 on Thursday. 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 company’s 50-day simple moving average is $15.34 and its 200 day simple moving average is $14.00. The stock has a market cap of $2.94 billion, a P/E ratio of 34.78, a PEG ratio of 1.67 and a beta of 1.84. Topgolf Callaway Brands has a twelve month low of $9.84 and a twelve month high of $22.60.

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

Insider Buying and Selling

In related news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction 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 Securities & Exchange Commission, which is accessible through the SEC website. In other 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 approximately $33,159.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Erik J. Anderson sold 5,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is owned by corporate insiders.

Institutional Trading of Topgolf Callaway Brands

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Topgolf Callaway Brands by 13.6% in the 4th quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock valued at $220,884,000 after purchasing an additional 1,845,864 shares during the period. Shapiro Capital Management LLC increased its stake in shares of Topgolf Callaway Brands by 651.6% during 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 during the period. TimesSquare Capital Management LLC lifted its holdings in Topgolf Callaway Brands by 0.7% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,684,235 shares of the company’s stock worth $23,310,000 after purchasing an additional 11,505 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Topgolf Callaway Brands by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,577,637 shares of the company’s stock valued at $22,623,000 after purchasing an additional 159,912 shares during the period. Finally, Kennedy Capital Management LLC increased its position in Topgolf Callaway Brands by 8.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 1,346,554 shares of the company’s stock worth $18,636,000 after buying an additional 102,325 shares during the period. Institutional investors and hedge funds 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.