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

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) has received an average recommendation of "Hold" from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $14.92.

A number of analysts recently commented on the stock. Bank of America decreased their price objective 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. TD Cowen lowered their price target on Topgolf Callaway Brands from $13.00 to $10.00 and set a "hold" rating on the stock in a report on Tuesday, September 17th. Jefferies Financial Group cut Topgolf Callaway Brands from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. Truist Financial lowered their target price on Topgolf Callaway Brands from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. cut their price target on 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.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several hedge funds have recently modified their holdings of MODG. Louisiana State Employees Retirement System grew its position in shares of Topgolf Callaway Brands by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company's stock valued at $1,088,000 after purchasing an additional 700 shares during the period. Creative Planning grew its holdings in Topgolf Callaway Brands by 6.8% in the 2nd quarter. Creative Planning now owns 22,201 shares of the company's stock valued at $340,000 after buying an additional 1,415 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Topgolf Callaway Brands by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company's stock valued at $1,200,000 after acquiring an additional 1,888 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of 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 acquiring an additional 1,936 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Topgolf Callaway Brands by 0.4% in the second quarter. Rhumbline Advisers now owns 462,111 shares of the company's stock worth $7,070,000 after acquiring an additional 1,962 shares during the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Price Performance

Shares of NYSE MODG traded up $0.16 during trading on Friday, hitting $7.45. 5,562,836 shares of the company were exchanged, compared to its average volume of 2,505,550. 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 1 year low of $7.22 and a 1 year high of $16.89. The company 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's fifty day moving average price is $9.02 and its 200 day moving average price is $11.52.

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.