Topgolf Callaway Brands’ (MODG) Buy Rating Reaffirmed at Roth Mkm

Roth Mkm reissued their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG) in a report issued on Thursday,Benzinga reports. Roth Mkm currently has a $16.00 target price on the stock, down from their previous target price of $17.00.

MODG has been the subject of several other reports. B. Riley downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $12.00 in a report on Thursday, October 17th. Morgan Stanley dropped their target price on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group cut Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. JPMorgan Chase & Co. dropped their price objective on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group decreased their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Topgolf Callaway Brands currently has a consensus rating of “Hold” and a consensus target price of $14.92.

Topgolf Callaway Brands Stock Up 1.7 %

MODG opened at $8.54 on Thursday. The company has a 50 day moving average of $10.07 and a two-hundred day moving average of $12.80. Topgolf Callaway Brands has a 52-week low of $8.23 and a 52-week high of $16.89. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp lifted its holdings in Topgolf Callaway Brands by 327.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after buying an additional 1,936 shares during the last quarter. Dnca Finance bought a new stake in Topgolf Callaway Brands during the second quarter valued at $134,000. Koss Olinger Consulting LLC bought a new stake in Topgolf Callaway Brands during the second quarter valued at $160,000. Simon Quick Advisors LLC acquired a new stake in shares of Topgolf Callaway Brands during the second quarter worth $161,000. Finally, QRG Capital Management Inc. bought a new position in shares of Topgolf Callaway Brands in the 1st quarter worth about $178,000. 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.