Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $14.92 Average Target Price from Brokerages

Topgolf Callaway Brands Corp. (NYSE:MODG) has been assigned a consensus rating of “Hold” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.92.

Several brokerages recently weighed in on MODG. TD Cowen dropped their target price on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. B. Riley lowered Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $12.00 in a research note on Thursday, October 17th. JPMorgan Chase & Co. decreased 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. The Goldman Sachs Group lowered 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, November 14th. Finally, Bank of America cut their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, September 12th.

Topgolf Callaway Brands Stock Performance

MODG opened at $7.72 on Friday. The company has a 50 day simple moving average of $8.73 and a two-hundred day simple moving average of $11.26. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The firm has a market cap of $1.42 billion, a P/E ratio of -96.49, a PEG ratio of 5.62 and a beta of 1.70. Topgolf Callaway Brands has a 1-year low of $7.22 and a 1-year high of $16.89.

Institutional Trading of Topgolf Callaway Brands

Hedge funds have recently made changes to their positions in the business. Tidal Investments LLC raised its position in Topgolf Callaway Brands by 35.7% during the third quarter. Tidal Investments LLC now owns 22,302 shares of the company’s stock valued at $245,000 after purchasing an additional 5,862 shares during the period. Boyar Asset Management Inc. raised its holdings in Topgolf Callaway Brands by 17.5% during the 3rd quarter. Boyar Asset Management Inc. now owns 104,540 shares of the company’s stock valued at $1,148,000 after buying an additional 15,532 shares during the period. Geode Capital Management LLC lifted its position in Topgolf Callaway Brands by 0.7% in 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 during the last quarter. MML Investors Services LLC boosted its stake 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 during the period. Finally, Portolan Capital Management LLC bought a new position in Topgolf Callaway Brands during the third quarter valued at $3,862,000. 84.69% of the stock is currently 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.