Topgolf Callaway Brands (NYSE:MODG) Price Target Cut to $9.00 by Analysts at JPMorgan Chase & Co.

Topgolf Callaway Brands (NYSE:MODG) had its target price trimmed by JPMorgan Chase & Co. from $11.00 to $9.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also recently weighed in on MODG. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. The Goldman Sachs Group cut their price target 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, November 14th. B. Riley downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $12.00 in a report on Thursday, October 17th. Roth Mkm reissued a “buy” rating and set a $16.00 target price (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Finally, Truist Financial decreased their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Topgolf Callaway Brands has a consensus rating of “Hold” and an average price target of $14.67.

Topgolf Callaway Brands Trading Down 3.5 %

Topgolf Callaway Brands stock opened at $8.09 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 market cap of $1.49 billion, a PE ratio of -101.05 and a beta of 1.70. The stock’s 50 day simple moving average is $8.22 and its two-hundred day simple moving average is $10.39. Topgolf Callaway Brands has a 12 month low of $7.22 and a 12 month high of $16.89.

Institutional Trading of Topgolf Callaway Brands

Several institutional investors have recently made changes to their positions in MODG. KBC Group NV lifted its stake in shares of Topgolf Callaway Brands by 81.8% in the 4th quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after purchasing an additional 3,749 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Topgolf Callaway Brands during the third quarter valued at about $133,000. Quest Partners LLC purchased a new position in shares of Topgolf Callaway Brands during the 3rd quarter worth approximately $161,000. International Assets Investment Management LLC increased its holdings in 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 purchasing an additional 13,663 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position 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 valued at $183,000 after purchasing an additional 1,985 shares during the period. Hedge funds and other 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.