Topgolf Callaway Brands (NYSE:MODG) Hits New 12-Month Low - What's Next?

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $7.52 and last traded at $7.52, with a volume of 3008077 shares traded. The stock had previously closed at $8.02.

Analyst Upgrades and Downgrades

MODG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of 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. The Goldman Sachs Group reduced 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 report on Thursday, November 14th. Jefferies Financial Group cut shares of Topgolf Callaway Brands from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. Raymond James lowered Topgolf Callaway Brands from an "outperform" rating to an "underperform" rating in a research report on Friday, August 23rd. Finally, B. Riley downgraded Topgolf Callaway Brands from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $18.00 to $12.00 in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $14.92.

Topgolf Callaway Brands Stock Performance

The stock's fifty day moving average is $9.08 and its 200-day moving average is $11.61. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -91.11, a PEG ratio of 5.62 and a beta of 1.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its position in shares of Topgolf Callaway Brands by 327.6% in the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company's stock valued at $39,000 after purchasing an additional 1,936 shares during the period. Koss Olinger Consulting LLC acquired a new position in shares of Topgolf Callaway Brands in the second quarter valued at approximately $160,000. Simon Quick Advisors LLC bought a new stake in shares of Topgolf Callaway Brands during the second quarter worth $161,000. nVerses Capital LLC acquired a new stake in shares of Topgolf Callaway Brands during the third quarter worth $133,000. Finally, XTX Topco Ltd bought a new stake in Topgolf Callaway Brands in the 2nd quarter valued at $218,000. 84.69% of the stock is owned by institutional investors and hedge funds.

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.