Topgolf Callaway Brands Corp. (NYSE:MODG) Given Average Recommendation of “Hold” by Brokerages

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

Several equities analysts have commented on MODG shares. Jefferies Financial Group cut shares of 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 report on Thursday, August 29th. Truist Financial decreased their target price on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. The Goldman Sachs Group cut 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. Roth Mkm reiterated a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. cut their target price 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, November 13th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp grew its stake 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. nVerses Capital LLC acquired a new stake in shares of Topgolf Callaway Brands in the third quarter valued at approximately $133,000. Koss Olinger Consulting LLC acquired a new position in shares of Topgolf Callaway Brands in the 2nd quarter valued at $160,000. Simon Quick Advisors LLC purchased a new stake in Topgolf Callaway Brands in the 2nd quarter valued at $161,000. Finally, Quest Partners LLC acquired a new stake in Topgolf Callaway Brands during the 3rd quarter worth $161,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Trading Up 2.2 %

NYSE MODG opened at $7.45 on Friday. 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 firm has a market cap of $1.37 billion, a price-to-earnings ratio of -93.11, a PEG ratio of 5.62 and a beta of 1.70. The firm has a 50 day simple moving average of $9.02 and a 200-day simple moving average of $11.55. Topgolf Callaway Brands has a one year low of $7.22 and a one year high of $16.89.

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.