Topgolf Callaway Brands (NYSE:MODG) Upgraded at Jefferies Financial Group

Topgolf Callaway Brands (NYSE:MODG) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Thursday, Marketbeat.com reports. The brokerage presently has a $13.00 target price on the stock, up from their prior target price of $11.00. Jefferies Financial Group’s price target would suggest a potential upside of 38.59% from the company’s previous close.

MODG has been the topic of several other reports. B. Riley downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $12.00 in a research report on Thursday, October 17th. JPMorgan Chase & Co. decreased their price target on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. TD Cowen dropped their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th. Bank of America decreased their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, Roth Mkm restated a “buy” rating and issued a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.00.

Topgolf Callaway Brands Trading Up 4.2 %

Topgolf Callaway Brands stock opened at $9.38 on Thursday. Topgolf Callaway Brands has a 12-month low of $7.22 and a 12-month high of $16.89. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -117.24, a P/E/G ratio of 5.62 and a beta of 1.70. The firm has a 50 day moving average of $8.56 and a 200 day moving average of $11.05. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Institutional Trading of Topgolf Callaway Brands

A number of large investors have recently modified their holdings of MODG. Leonard Green & Partners L.P. bought a new stake in Topgolf Callaway Brands during the second quarter valued at about $97,173,000. Dimensional Fund Advisors LP grew its holdings in Topgolf Callaway Brands by 21.8% in the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock worth $132,296,000 after purchasing an additional 1,549,222 shares during the last quarter. American Century Companies Inc. increased its position in shares of Topgolf Callaway Brands by 60.8% during the second quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock worth $48,634,000 after purchasing an additional 1,202,347 shares in the last quarter. Granite Investment Partners LLC acquired a new stake in shares of Topgolf Callaway Brands in the 2nd quarter worth $13,757,000. Finally, Harbor Capital Advisors Inc. raised its stake in Topgolf Callaway Brands by 115.5% in the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after buying an additional 881,535 shares during the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Company Profile

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.