Topgolf Callaway Brands (NYSE:CALY) Price Target Raised to $19.00

Topgolf Callaway Brands (NYSE:CALY) had its target price lifted by The Goldman Sachs Group from $17.00 to $19.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also recently commented on CALY. B. Riley Financial reiterated a “buy” rating and set a $23.00 target price (up from $19.00) on shares of Topgolf Callaway Brands in a research note on Wednesday. UBS Group boosted their target price on Topgolf Callaway Brands from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Weiss Ratings upgraded shares of Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. lifted their target price on Topgolf Callaway Brands to $18.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Finally, Truist Financial increased their price target on Topgolf Callaway Brands to $19.00 and gave the company a “buy” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Topgolf Callaway Brands Stock Performance

Topgolf Callaway Brands stock opened at $17.62 on Wednesday. Topgolf Callaway Brands has a 1 year low of $8.00 and a 1 year high of $20.28. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 40.97 and a beta of 0.93. The business has a 50 day simple moving average of $17.86.

Topgolf Callaway Brands (NYSE:CALY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.04. Topgolf Callaway Brands had a net margin of 3.37% and a return on equity of 5.86%. The firm had revenue of $612.20 million for the quarter. The company’s revenue was down 44.9% on a year-over-year basis. Analysts predict that Topgolf Callaway Brands will post 0.75 EPS for the current fiscal year.

About Topgolf Callaway Brands

Topgolf Callaway Brands plc (NYSE: MODG) is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.