Topgolf Callaway Brands (NYSE:MODG) Price Target Cut to $12.00 by Analysts at The Goldman Sachs Group

Topgolf Callaway Brands (NYSE:MODG) had its target price reduced by The Goldman Sachs Group from $14.00 to $12.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently weighed in on MODG. Morgan Stanley reduced their price target on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group cut Topgolf Callaway Brands from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Bank of America reduced their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, KeyCorp cut Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.92.

Topgolf Callaway Brands Stock Performance

Topgolf Callaway Brands stock opened at $8.54 on Thursday. Topgolf Callaway Brands has a 12-month low of $8.23 and a 12-month high of $16.89. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $10.07 and its two-hundred day moving average price is $12.77. The stock has a market cap of $1.57 billion, a PE ratio of -106.74, a P/E/G ratio of 5.39 and a beta of 1.75.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Topgolf Callaway Brands by 0.7% during the third quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock worth $35,749,000 after buying an additional 22,003 shares in the last quarter. MML Investors Services LLC grew its holdings in Topgolf Callaway Brands by 25.3% during the third quarter. MML Investors Services LLC now owns 93,897 shares of the company’s stock worth $1,031,000 after buying an additional 18,988 shares in the last quarter. Portolan Capital Management LLC bought a new stake in Topgolf Callaway Brands during the third quarter worth $3,862,000. Holocene Advisors LP grew its holdings in Topgolf Callaway Brands by 68.6% during the third quarter. Holocene Advisors LP now owns 36,570 shares of the company’s stock worth $402,000 after buying an additional 14,885 shares in the last quarter. Finally, Arizona PSPRS Trust bought a new stake in Topgolf Callaway Brands during the third quarter worth $1,696,000. Institutional investors own 84.69% of the company’s stock.

About Topgolf Callaway Brands

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.