Topgolf Callaway Brands Corp [NYSE: MODG] traded at a high on Wednesday, posting a 8.83 gain after which it closed the day’ session at $15.66. The company report on March 20, 2024 at 1:50 PM that TOPGOLF CALLAWAY ISSUES STATEMENT ON RECENT MEDIA REPORTS.
Topgolf Callaway Brands Corp. (NYSE: MODG) (“Topgolf Callaway Brands” or the “Company”) today issued the following statement:.
While it is our long-standing practice not to respond to market rumors and speculation, in light of today’s unusual market activity, coupled with a recent media report originating in Korea regarding discussions of a potential sale of the Company or its golf equipment business, we confirm that we are not aware of any such discussions. We do not intend to comment further on this topic, and we assume no obligation to make any further announcement or disclosure should circumstances change.
The results of the trading session contributed to over 13791748 shares changing hands. Over the past one week, the price volatility of Topgolf Callaway Brands Corp stands at 5.61% while the volatility over the past one month is 3.65%.
The market cap for MODG stock reached $2.88 billion, with 183.70 million shares outstanding and 139.53 million shares in the current float. Compared to the average trading volume of 2.63M shares, MODG reached a trading volume of 13791748 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Topgolf Callaway Brands Corp [MODG]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MODG shares is $18.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MODG stock is a recommendation set at 1.93. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stephens have made an estimate for Topgolf Callaway Brands Corp shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on November 09, 2023. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $23 to $13. The new note on the price target was released on November 09, 2023, representing the official price target for Topgolf Callaway Brands Corp stock. Previously, the target price had yet another raise to $12, while Morgan Stanley analysts kept a Underweight rating on MODG stock.
The Average True Range (ATR) for Topgolf Callaway Brands Corp is set at 0.64, with the Price to Sales ratio for MODG stock in the period of the last 12 months amounting to 0.67. The Price to Book ratio for the last quarter was 0.74, with the Price to Cash per share for the same quarter was set at 2.15.
How has MODG stock performed recently?
Topgolf Callaway Brands Corp [MODG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.66. With this latest performance, MODG shares gained by 7.33% in over the last four-week period, additionally sinking by -0.45% over the last 6 months – not to mention a drop of -25.32% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MODG stock in for the last two-week period is set at 67.89, with the RSI for the last a single of trading hit 75.17, and the three-weeks RSI is set at 63.19 for Topgolf Callaway Brands Corp [MODG]. The present Moving Average for the last 50 days of trading for this stock 14.05, while it was recorded at 14.25 for the last single week of trading, and 15.28 for the last 200 days.
Topgolf Callaway Brands Corp [MODG]: Deeper insight into the fundamentals
Topgolf Callaway Brands Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.88 and a Current Ratio set at 1.72.
Earnings analysis for Topgolf Callaway Brands Corp [MODG]
With the latest financial reports released by the company, Topgolf Callaway Brands Corp posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at 0.16/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MODG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Topgolf Callaway Brands Corp go to 14.00%.
Insider trade positions for Topgolf Callaway Brands Corp [MODG]
The top three institutional holders of MODG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MODG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MODG stock with ownership which is approximately 5.8325%.
