Topgolf Callaway Brands Corp. (NYSE:CALY) Stock Has Consensus Target Price of $19.83 According to Brokerages

Shares of Topgolf Callaway Brands Corp. (NYSE:CALY – Get Free Report) have been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $19.83.

Several research firms recently issued reports on CALY. KeyCorp raised their price objective on shares of Topgolf Callaway Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group boosted their target price on shares of Topgolf Callaway Brands from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Topgolf Callaway Brands in a research note on Friday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Topgolf Callaway Brands to $18.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Finally, Zacks Research lowered shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th.

Get Our Latest Analysis on Topgolf Callaway Brands

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, EVP Glenn Hickey sold 28,843 shares of Topgolf Callaway Brands stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $18.74, for a total value of $540,517.82. Following the sale, the executive vice president owned 72,239 shares in the company, valued at $1,353,758.86. The trade was a 28.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Oliver Brewer, III sold 1,400 shares of Topgolf Callaway Brands stock in a transaction on Friday, August 7th. The shares were sold at an average price of $18.00, for a total value of $25,200.00. Following the completion of the sale, the chief executive officer owned 200,983 shares in the company, valued at $3,617,694. This represents a 0.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 97,717 shares of company stock valued at $1,800,492. 2.91% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in shares of Topgolf Callaway Brands during the second quarter valued at about $268,370,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Topgolf Callaway Brands in the 2nd quarter worth approximately $6,239,000. Squarepoint Ops LLC acquired a new position in shares of Topgolf Callaway Brands in the 2nd quarter worth approximately $3,854,000. Engineers Gate Manager LP acquired a new position in shares of Topgolf Callaway Brands in the 2nd quarter worth approximately $5,243,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Topgolf Callaway Brands during the 2nd quarter worth approximately $3,698,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Up 1.3%

Shares of NYSE:CALY opened at $14.44 on Friday. Topgolf Callaway Brands has a 52-week low of $8.39 and a 52-week high of $20.28. The stock has a market cap of $2.58 billion, a P/E ratio of 33.57 and a beta of 0.93. The business has a fifty day moving average of $16.44 and a two-hundred day moving average of $15.97.

Topgolf Callaway Brands (NYSE:CALY – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. The business had revenue of $612.20 million for the quarter. Topgolf Callaway Brands had a return on equity of 5.86% and a net margin of 3.37%.The company’s revenue was down 44.9% on a year-over-year basis. On average, equities analysts anticipate that Topgolf Callaway Brands will post 0.75 earnings per share for the current year.

Topgolf Callaway Brands Company Profile

(Get Free Report)

Topgolf Callaway Brands Corp. is a golf-focused company that combines golf equipment, apparel and footwear businesses with technology-enabled golf entertainment. Its portfolio has included Callaway golf clubs, golf balls and accessories; Odyssey putters and equipment; TravisMathew apparel and footwear; and Jack Wolfskin outdoor apparel and equipment.

The company has also operated Topgolf, a network of technologically enhanced golf entertainment venues where customers can play interactive games, receive instruction, dine and attend social or corporate events.

Further Reading

Analyst Recommendations for Topgolf Callaway Brands (NYSE:CALY)

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