Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $14.92 Average PT from Analysts

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

A number of research analysts have issued reports on MODG shares. Bank of America lowered their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, September 12th. Roth Mkm reiterated a "buy" rating and issued a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a "buy" rating to a "hold" rating and reduced their price objective for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. The Goldman Sachs Group dropped 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, Truist Financial reduced 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 report on Wednesday, November 13th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Leonard Green & Partners L.P. purchased a new position in shares of Topgolf Callaway Brands during the 2nd quarter valued at about $97,173,000. Dimensional Fund Advisors LP lifted its holdings in Topgolf Callaway Brands by 21.8% during the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company's stock valued at $132,296,000 after purchasing an additional 1,549,222 shares in the last quarter. American Century Companies Inc. boosted its position in shares of 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. Granite Investment Partners LLC purchased a new stake in shares of Topgolf Callaway Brands in the second quarter worth $13,757,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of 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 purchasing an additional 881,535 shares during the period. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Price Performance

MODG stock opened at $7.45 on Friday. 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 firm has a 50 day moving average price of $9.02 and a 200-day moving average price of $11.55. Topgolf Callaway Brands has a 52-week low of $7.22 and a 52-week high of $16.89. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -93.11, a PEG ratio of 5.62 and a beta of 1.70.

About Topgolf Callaway Brands

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.