Topgolf Callaway Brands Corp. (NYSE:MODG) Receives Average Rating of “Hold” from Analysts

Topgolf Callaway Brands Corp. (NYSE:MODG) has received an average rating of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $14.83.

MODG has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Truist Financial decreased their price target on 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. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $12.00 in a research note on Thursday, October 17th. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, Roth Mkm reissued a “buy” rating and set a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of hedge funds have recently made changes to their positions in MODG. Leonard Green & Partners L.P. bought a new stake in shares of Topgolf Callaway Brands during the second quarter valued at about $97,173,000. Charles Schwab Investment Management Inc. raised its position in shares of Topgolf Callaway Brands by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock worth $21,912,000 after buying an additional 148,451 shares in the last quarter. PDT Partners LLC bought a new stake in shares of Topgolf Callaway Brands during the 3rd quarter worth about $1,934,000. Harbor Capital Advisors Inc. lifted its stake in shares of Topgolf Callaway Brands by 115.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock worth $18,059,000 after acquiring an additional 881,535 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of Topgolf Callaway Brands in the third quarter valued at approximately $3,396,000. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Down 0.2 %

MODG stock opened at $8.08 on Thursday. 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 firm has a 50 day simple moving average of $8.25 and a 200-day simple moving average of $10.47. The company has a market capitalization of $1.48 billion, a P/E ratio of -100.92 and a beta of 1.70. Topgolf Callaway Brands has a twelve month low of $7.22 and a twelve month high of $16.89.

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.