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

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) have received a consensus recommendation of "Hold" from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $14.36.

A number of brokerages have weighed in on MODG. Jefferies Financial Group upgraded Topgolf Callaway Brands from a "hold" rating to a "buy" rating and upped their price target for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group decreased 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, November 14th. Roth Mkm restated a "buy" rating and set a $16.00 target price (down previously from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. Finally, Truist Financial decreased their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th.

Hedge Funds Weigh In On Topgolf Callaway Brands

Large investors have recently made changes to their positions in the company. Asset Planning Inc acquired a new position in shares of Topgolf Callaway Brands during the fourth quarter valued at $33,000. Sterling Capital Management LLC lifted its stake in Topgolf Callaway Brands by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock valued at $36,000 after buying an additional 4,050 shares during the period. KBC Group NV lifted its stake in Topgolf Callaway Brands by 81.8% in the fourth quarter. KBC Group NV now owns 8,330 shares of the company's stock valued at $65,000 after buying an additional 3,749 shares during the period. Covestor Ltd lifted its stake in Topgolf Callaway Brands by 147.2% in the fourth quarter. Covestor Ltd now owns 9,286 shares of the company's stock valued at $73,000 after buying an additional 5,530 shares during the period. Finally, Stifel Financial Corp acquired a new position in Topgolf Callaway Brands in the fourth quarter valued at about $83,000. Institutional investors and hedge funds own 84.69% of the company's stock.

Topgolf Callaway Brands Price Performance

NYSE:MODG traded down $0.35 during trading hours on Monday, reaching $7.24. The company had a trading volume of 2,788,824 shares, compared to its average volume of 2,462,198. The stock has a 50-day moving average of $8.04 and a two-hundred day moving average of $9.47. Topgolf Callaway Brands has a one year low of $7.13 and a one year high of $16.89. The firm has a market capitalization of $1.33 billion, a PE ratio of -90.43 and a beta of 1.70. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

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.