Analysts Set Topgolf Callaway Brands Corp. (NYSE:MODG) PT at $14.92

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) have been given a consensus rating of "Hold" by the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $14.92.

MODG has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Topgolf Callaway Brands from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th. B. Riley lowered shares of Topgolf Callaway Brands from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Roth Mkm reiterated a "buy" rating and set a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. KeyCorp downgraded Topgolf Callaway Brands from an "overweight" rating to a "sector weight" rating in a research note on Thursday, August 8th. Finally, Raymond James lowered Topgolf Callaway Brands from an "outperform" rating to an "underperform" rating in a research report on Friday, August 23rd.

Topgolf Callaway Brands Trading Down 6.1 %

Shares of Topgolf Callaway Brands stock opened at $8.31 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. Topgolf Callaway Brands has a 52 week low of $7.95 and a 52 week high of $16.89. The stock has a 50 day moving average price of $9.90 and a two-hundred day moving average price of $12.45.

Hedge Funds Weigh In On Topgolf Callaway Brands

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Topgolf Callaway Brands by 0.5% during the first quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company's stock valued at $250,383,000 after purchasing an additional 81,021 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of 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 acquiring an additional 1,549,222 shares during the period. Leonard Green & Partners L.P. purchased a new stake in Topgolf Callaway Brands in the 2nd quarter worth about $97,173,000. Geode Capital Management LLC increased its holdings in Topgolf Callaway Brands by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company's stock worth $35,749,000 after acquiring an additional 22,003 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Topgolf Callaway Brands by 60.8% in the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company's stock valued at $48,634,000 after acquiring an additional 1,202,347 shares during the period. Institutional investors own 84.69% of the company's stock.

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.