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

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have received an average rating of “Hold” from the twelve analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $14.92.

Several research analysts recently commented on the stock. TD Cowen reduced 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. Roth Mkm restated a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. B. Riley lowered Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Jefferies Financial Group downgraded Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. Finally, Truist Financial dropped their price objective on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th.

Topgolf Callaway Brands Trading Up 2.8 %

NYSE MODG opened at $8.02 on Friday. Topgolf Callaway Brands has a 52 week low of $7.22 and a 52 week high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The stock’s 50 day moving average price is $8.79 and its two-hundred day moving average price is $11.34. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -100.24, a PEG ratio of 5.62 and a beta of 1.70.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several institutional investors and hedge funds have recently made changes to their positions in MODG. Fifth Third Bancorp boosted its stake in Topgolf Callaway Brands by 327.6% in the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after purchasing an additional 1,936 shares during the period. nVerses Capital LLC bought a new stake in shares of Topgolf Callaway Brands in the third quarter valued at about $133,000. Koss Olinger Consulting LLC acquired a new position in shares of Topgolf Callaway Brands in the second quarter valued at about $160,000. Simon Quick Advisors LLC bought a new position in Topgolf Callaway Brands during the second quarter worth about $161,000. Finally, Quest Partners LLC acquired a new stake in Topgolf Callaway Brands in the 3rd quarter worth about $161,000. Institutional investors and hedge funds 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.