Truist Financial Lowers Topgolf Callaway Brands (NYSE:MODG) Price Target to $12.00

Topgolf Callaway Brands (NYSE:MODG) had its price objective dropped by Truist Financial from $14.00 to $12.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 39.05% from the stock’s current price.

MODG has been the topic of a number of other reports. Roth Mkm reaffirmed a “buy” rating and set a $16.00 target price (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. 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. The Goldman Sachs Group decreased their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Bank of America reduced their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, TD Cowen dropped their price objective on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, September 17th. Two research 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’s stock. According to data from MarketBeat.com, Topgolf Callaway Brands presently has a consensus rating of “Hold” and an average price target of $14.83.

Topgolf Callaway Brands Stock Performance

Shares of NYSE:MODG opened at $8.63 on Tuesday. The business’s 50-day simple moving average is $8.50 and its 200 day simple moving average is $10.89. Topgolf Callaway Brands has a one year low of $7.22 and a one year 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 company has a market cap of $1.59 billion, a P/E ratio of -107.86, a PEG ratio of 5.62 and a beta of 1.70.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of Topgolf Callaway Brands in the third quarter valued at $133,000. Koss Olinger Consulting LLC purchased a new position in Topgolf Callaway Brands during the second quarter valued at approximately $160,000. Quest Partners LLC purchased a new stake in Topgolf Callaway Brands in the 3rd quarter worth approximately $161,000. International Assets Investment Management LLC boosted its stake in shares of Topgolf Callaway Brands by 998.0% during the 3rd quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock valued at $165,000 after buying an additional 13,663 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in shares of Topgolf Callaway Brands by 13.5% during the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock valued at $183,000 after acquiring an additional 1,985 shares in the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

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.