Topgolf Callaway Brands (NYSE:MODG) Reaches New 1-Year Low - What's Next?

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $7.16 and last traded at $7.25, with a volume of 122508 shares changing hands. The stock had previously closed at $7.30.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MODG shares. Truist Financial lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Roth Mkm reaffirmed a "buy" rating and issued a $16.00 price objective (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. The Goldman Sachs Group decreased their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, November 14th. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and raised their price target for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $14.36.

Topgolf Callaway Brands Stock Down 4.6 %

The stock's 50-day moving average price is $8.04 and its two-hundred day moving average price is $9.47. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $1.33 billion, a P/E ratio of -90.43 and a beta of 1.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MODG. Asset Planning Inc purchased a new position in shares of Topgolf Callaway Brands in the fourth quarter valued at $33,000. Sterling Capital Management LLC grew its holdings in Topgolf Callaway Brands by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock valued at $36,000 after buying an additional 4,050 shares in the last quarter. KBC Group NV grew its holdings in Topgolf Callaway Brands by 81.8% during the 4th quarter. KBC Group NV now owns 8,330 shares of the company's stock valued at $65,000 after buying an additional 3,749 shares in the last quarter. Covestor Ltd increased its position in shares of Topgolf Callaway Brands by 147.2% during the fourth quarter. Covestor Ltd now owns 9,286 shares of the company's stock valued at $73,000 after buying an additional 5,530 shares during the period. Finally, FORA Capital LLC purchased a new stake in shares of Topgolf Callaway Brands in the fourth quarter worth about $81,000. Institutional investors own 84.69% of the company's stock.

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.