JPMorgan Chase & Co. Cuts Topgolf Callaway Brands (NYSE:MODG) Price Target to $11.00

Topgolf Callaway Brands (NYSE:MODG) had its price target cut by JPMorgan Chase & Co. from $13.00 to $11.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the company. TD Cowen cut their target price on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th. Roth Mkm restated a “buy” rating and issued a $17.00 price objective on shares of Topgolf Callaway Brands in a report on Thursday, September 5th. B. Riley cut shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $12.00 in a research report on Thursday, October 17th. Bank of America decreased their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, Raymond James downgraded shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Topgolf Callaway Brands has a consensus rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Stock Up 1.7 %

MODG stock opened at $8.54 on Wednesday. The firm has a market cap of $1.57 billion, a PE ratio of -106.75, a PEG ratio of 8.62 and a beta of 1.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93. The firm’s 50 day moving average price is $10.07 and its 200-day moving average price is $12.82. Topgolf Callaway Brands has a one year low of $8.23 and a one year high of $16.89.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several large investors have recently bought and sold shares of MODG. Vanguard Group Inc. increased its position in shares of Topgolf Callaway Brands by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock valued at $250,383,000 after purchasing an additional 81,021 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Topgolf Callaway Brands by 21.8% in the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock valued at $132,296,000 after buying an additional 1,549,222 shares in the last quarter. Leonard Green & Partners L.P. purchased a new stake in Topgolf Callaway Brands during the 2nd quarter worth about $97,173,000. Geode Capital Management LLC boosted its position in shares of Topgolf Callaway Brands by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock worth $35,749,000 after acquiring an additional 22,003 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Topgolf Callaway Brands by 60.8% in the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock valued at $48,634,000 after acquiring an additional 1,202,347 shares during the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

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.