Topgolf Callaway Brands Corp. (NYSE:MODG) Given Consensus Rating of “Hold” by Brokerages

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have earned an average rating of “Hold” from the twelve analysts that are covering the firm, Marketbeat.com reports. Two investment 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. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $14.92.

Several brokerages have weighed in on MODG. Morgan Stanley lowered 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 note on Thursday, August 8th. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $12.00 in a research report on Thursday, October 17th. Roth Mkm reaffirmed a “buy” rating and set a $16.00 target price (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. JPMorgan Chase & Co. decreased their price target on 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. Finally, Truist Financial dropped their price target 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.

Institutional Trading of Topgolf Callaway Brands

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Topgolf Callaway Brands by 0.5% during the first quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after purchasing an additional 81,021 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Topgolf Callaway Brands by 21.8% in the 2nd 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 during the period. Leonard Green & Partners L.P. acquired a new position in shares of Topgolf Callaway Brands in the 2nd quarter valued at about $97,173,000. Geode Capital Management LLC grew its holdings in Topgolf Callaway Brands by 0.7% during the third 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 during the period. Finally, American Century Companies Inc. raised its position in Topgolf Callaway Brands by 60.8% during the second 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 in the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Stock Up 1.4 %

NYSE:MODG opened at $8.42 on Wednesday. The company’s 50-day simple moving average is $9.72 and its 200-day simple moving average is $12.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. Topgolf Callaway Brands has a fifty-two week low of $7.95 and a fifty-two week high of $16.89. The stock has a market capitalization of $1.55 billion, a P/E ratio of -105.24, a P/E/G ratio of 5.73 and a beta of 1.75.

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.