Topgolf Callaway Brands (NYSE:MODG) Stock Rating Upgraded by Jefferies Financial Group

Topgolf Callaway Brands (NYSE:MODG) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report issued on Thursday, Marketbeat Ratings reports. The firm presently has a $13.00 price objective on the stock, up from their prior price objective of $11.00. Jefferies Financial Group’s target price suggests a potential upside of 38.59% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Bank of America dropped their target price 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. JPMorgan Chase & Co. cut their target price 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. B. Riley downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $12.00 in a research report on Thursday, October 17th. Roth Mkm reissued a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Finally, Truist Financial reduced their price objective on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.00.

Topgolf Callaway Brands Trading Up 4.2 %

NYSE:MODG opened at $9.38 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. Topgolf Callaway Brands has a one year low of $7.22 and a one year high of $16.89. The company has a market cap of $1.72 billion, a PE ratio of -117.24, a PEG 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.

Institutional Investors Weigh In On Topgolf Callaway Brands

Hedge funds have recently bought and sold shares of the business. Creative Planning grew its holdings in shares of Topgolf Callaway Brands by 6.8% during the second quarter. Creative Planning now owns 22,201 shares of the company’s stock valued at $340,000 after buying an additional 1,415 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Topgolf Callaway Brands by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock valued at $1,200,000 after purchasing an additional 1,888 shares during the period. Rhumbline Advisers grew its stake in shares of Topgolf Callaway Brands by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 462,111 shares of the company’s stock valued at $7,070,000 after purchasing an additional 1,962 shares during the period. Park Avenue Securities LLC increased its position in shares of Topgolf Callaway Brands by 13.5% during the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock valued at $183,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Topgolf Callaway Brands by 28.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,458 shares of the company’s stock worth $236,000 after purchasing an additional 3,396 shares during the period. 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.