Topgolf Callaway Brands (NYSE:MODG) Given "Buy" Rating at Roth Mkm

Roth Mkm restated their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG - Free Report) in a research report report published on Thursday,Benzinga reports. The brokerage currently has a $16.00 price objective on the stock, down from their previous price objective of $17.00.

Several other analysts have also recently weighed in on the company. Truist Financial lowered their price target on Topgolf Callaway Brands from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday. Morgan Stanley dropped their target price on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Thursday, August 8th. KeyCorp lowered shares of Topgolf Callaway Brands from an "overweight" rating to a "sector weight" rating in a report on Thursday, August 8th. Bank of America dropped their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, September 12th. Finally, Jefferies Financial Group cut Topgolf Callaway Brands from a "buy" rating to a "hold" rating and reduced their target price for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Topgolf Callaway Brands currently has a consensus rating of "Hold" and an average price target of $14.92.

Topgolf Callaway Brands Price Performance

Shares of MODG traded down $0.18 during mid-day trading on Thursday, reaching $8.40. 2,884,884 shares of the stock traded hands, compared to its average volume of 2,514,591. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands has a 1 year low of $8.29 and a 1 year high of $16.89. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -107.24, a price-to-earnings-growth ratio of 6.06 and a beta of 1.75. The firm has a fifty day moving average price of $10.14 and a 200 day moving average price of $12.90.

Institutional Trading of Topgolf Callaway Brands

Several large investors have recently modified their holdings of MODG. Fifth Third Bancorp grew its stake in Topgolf Callaway Brands by 327.6% in the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company's stock worth $39,000 after purchasing an additional 1,936 shares during the period. nVerses Capital LLC bought a new position in shares of Topgolf Callaway Brands in the 3rd quarter worth about $133,000. Dnca Finance purchased a new position in Topgolf Callaway Brands during the 2nd quarter valued at about $134,000. Koss Olinger Consulting LLC bought a new stake in Topgolf Callaway Brands during the second quarter worth about $160,000. Finally, Simon Quick Advisors LLC purchased a new stake in Topgolf Callaway Brands in the second quarter worth about $161,000. 84.69% of the stock is owned by 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.