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

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) have been given an average recommendation of "Hold" by the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $14.83.

Several research analysts have recently issued reports on MODG shares. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and upped their target price for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price objective on Topgolf Callaway Brands from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 13th. Truist Financial reduced their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Roth Mkm reaffirmed a "buy" rating and set a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. Finally, The Goldman Sachs Group reduced their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, November 14th.

Institutional Trading of Topgolf Callaway Brands

Several large 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 worth $97,173,000. Charles Schwab Investment Management Inc. lifted its position in Topgolf Callaway Brands by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company's stock valued at $21,912,000 after purchasing an additional 148,451 shares in the last quarter. PDT Partners LLC bought a new stake in Topgolf Callaway Brands during the third quarter valued at about $1,934,000. Harbor Capital Advisors Inc. grew its holdings in Topgolf Callaway Brands by 115.5% during the third 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. Finally, Empowered Funds LLC purchased a new stake in Topgolf Callaway Brands in the third quarter worth about $3,396,000. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Stock Down 0.2 %

Shares of MODG traded down $0.02 during trading hours on Thursday, hitting $8.12. The company had a trading volume of 2,857,681 shares, compared to its average volume of 3,439,835. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -101.42 and a beta of 1.70. The firm has a fifty day moving average price of $8.35 and a 200-day moving average price of $10.64. Topgolf Callaway Brands has a 52-week low of $7.22 and a 52-week high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93.

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.