Topgolf Callaway Brands Corp. (NYSE:MODG) Given Consensus Recommendation of “Hold” by Analysts

Topgolf Callaway Brands Corp. (NYSE:MODG) has received an average rating of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $14.83.

Several analysts recently commented on the stock. Truist Financial cut their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and increased their price objective for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Roth Mkm restated a “buy” rating and issued a $16.00 target price (down from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. B. Riley downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $12.00 in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. dropped their price target on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock opened at $8.08 on Thursday. Topgolf Callaway Brands has a 52 week low of $7.22 and a 52 week high of $16.89. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.48 billion, a PE ratio of -100.92 and a beta of 1.70. The company’s 50-day moving average price is $8.25 and its two-hundred day moving average price is $10.47.

Institutional Trading of Topgolf Callaway Brands

A number of hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new stake in Topgolf Callaway Brands during the third quarter valued at $133,000. Quest Partners LLC acquired a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at about $161,000. International Assets Investment Management LLC grew its stake in shares of Topgolf Callaway Brands by 998.0% in the 3rd quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock valued at $165,000 after buying an additional 13,663 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Topgolf Callaway Brands by 13.5% in the third quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock worth $183,000 after buying an additional 1,985 shares during the last quarter. Finally, Lansing Street Advisors bought a new position in Topgolf Callaway Brands during the third quarter valued at approximately $187,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

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.