JPMorgan Chase & Co. Has Lowered Expectations for Topgolf Callaway Brands (NYSE:MODG) Stock Price

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) had its target price cut by investment analysts at JPMorgan Chase & Co. from $11.00 to $9.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 12.29% from the stock's current price.

MODG has been the subject of several other research reports. Jefferies Financial Group upgraded Topgolf Callaway Brands from a "hold" rating to a "buy" rating and increased their price objective for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. The Goldman Sachs Group dropped 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. B. Riley lowered shares of Topgolf Callaway Brands from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Truist Financial cut their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Finally, Roth Mkm reissued a "buy" rating and issued a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $14.67.

Topgolf Callaway Brands Trading Down 0.8 %

Shares of Topgolf Callaway Brands stock traded down $0.07 during trading on Thursday, reaching $8.02. 2,056,291 shares of the stock were exchanged, compared to its average volume of 3,097,053. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -100.17 and a beta of 1.70. Topgolf Callaway Brands has a 1 year low of $7.22 and a 1 year high of $16.89. The stock's fifty day moving average is $8.21 and its 200 day moving average is $10.35.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Leonard Green & Partners L.P. purchased a new stake in shares of Topgolf Callaway Brands during the second quarter valued at $97,173,000. Harbor Capital Advisors Inc. lifted its stake in Topgolf Callaway Brands by 115.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company's stock valued at $18,059,000 after acquiring an additional 881,535 shares during the period. LGT Capital Partners LTD. purchased a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at about $6,588,000. Squarepoint Ops LLC grew its stake in shares of Topgolf Callaway Brands by 1,002.2% in the second quarter. Squarepoint Ops LLC now owns 390,172 shares of the company's stock worth $5,970,000 after acquiring an additional 354,773 shares during the period. Finally, Portolan Capital Management LLC purchased a new position in shares of Topgolf Callaway Brands during the third quarter valued at approximately $3,862,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

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.