Topgolf Callaway Brands (NYSE:MODG) Upgraded to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Topgolf Callaway Brands (NYSE:MODG) from a hold rating to a buy rating in a report published on Thursday, MarketBeat Ratings reports. Jefferies Financial Group currently has $13.00 target price on the stock, up from their prior target price of $11.00.

A number of other equities analysts also recently commented on the company. B. Riley downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Bank of America cut their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. 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 research note on Wednesday, November 13th. The Goldman Sachs Group cut their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, TD Cowen reduced their target price on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.00.

Topgolf Callaway Brands Price Performance

MODG opened at $9.00 on Thursday. Topgolf Callaway Brands has a 1 year low of $7.22 and a 1 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’s 50 day simple moving average is $8.58 and its 200 day simple moving average is $11.10. The stock has a market capitalization of $1.65 billion, a PE ratio of -112.49, a P/E/G ratio of 5.62 and a beta of 1.70.

Institutional Trading of Topgolf Callaway Brands

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in Topgolf Callaway Brands by 21.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock worth $132,296,000 after buying an additional 1,549,222 shares during the last quarter. Leonard Green & Partners L.P. acquired a new stake in shares of Topgolf Callaway Brands during the 2nd quarter valued at approximately $97,173,000. Geode Capital Management LLC lifted its stake in Topgolf Callaway Brands by 0.7% during the third quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock worth $35,749,000 after purchasing an additional 22,003 shares during the last quarter. American Century Companies Inc. boosted its holdings in Topgolf Callaway Brands by 60.8% in the second quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock worth $48,634,000 after purchasing an additional 1,202,347 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Topgolf Callaway Brands by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock valued at $21,912,000 after purchasing an additional 148,451 shares during the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Company Profile

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.