Topgolf Callaway Brands (NYSE:MODG) Upgraded to "Buy" at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Topgolf Callaway Brands (NYSE:MODG - Free Report) from a hold rating to a buy rating in a research report sent to investors on Thursday, Marketbeat.com reports. Jefferies Financial Group currently has $13.00 price target on the stock, up from their prior price target of $11.00.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group dropped their price objective on 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. Roth Mkm reissued a "buy" rating and set a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Bank of America reduced 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 research report on Thursday, September 12th. TD Cowen dropped their target price on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a "hold" rating on the stock in a research report on Tuesday, September 17th. Finally, Truist Financial cut their target price on Topgolf Callaway Brands from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Topgolf Callaway Brands currently has an average rating of "Hold" and a consensus price target of $15.00.

Topgolf Callaway Brands Stock Up 14.5 %

Shares of NYSE MODG traded up $1.14 during mid-day trading on Thursday, reaching $9.00. 8,793,230 shares of the company's stock traded hands, compared to its average volume of 2,495,509. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. Topgolf Callaway Brands has a 1-year low of $7.22 and a 1-year high of $16.89. The stock has a market cap of $1.65 billion, a P/E ratio of -112.49, a PEG ratio of 5.62 and a beta of 1.70. The business has a 50-day simple moving average of $8.58 and a 200 day simple moving average of $11.10.

Institutional Trading of Topgolf Callaway Brands

Several hedge funds have recently made changes to their positions in the company. Koss Olinger Consulting LLC bought a new stake in shares of Topgolf Callaway Brands in the second quarter valued at approximately $160,000. Simon Quick Advisors LLC bought a new stake in Topgolf Callaway Brands during the 2nd quarter valued at $161,000. nVerses Capital LLC bought a new position in shares of Topgolf Callaway Brands in the third quarter worth $133,000. XTX Topco Ltd purchased a new position in shares of Topgolf Callaway Brands in the second quarter valued at $218,000. Finally, Quest Partners LLC bought a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at $161,000. 84.69% of the stock is currently owned by institutional investors.

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.