Topgolf Callaway Brands (NYSE:MODG) Given New $12.00 Price Target at The Goldman Sachs Group

Topgolf Callaway Brands (NYSE:MODG) had its price target cut by investment analysts at The Goldman Sachs Group from $14.00 to $12.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 40.52% from the stock’s previous close.

Other research analysts also recently issued reports about the company. TD Cowen decreased their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. JPMorgan Chase & Co. reduced their price target on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday. Roth Mkm reissued a “buy” rating and set a $17.00 price target on shares of Topgolf Callaway Brands in a research report on Thursday, September 5th. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $12.00 in a research report on Thursday, October 17th. Finally, KeyCorp cut Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Topgolf Callaway Brands currently has an average rating of “Hold” and an average price target of $14.92.

Topgolf Callaway Brands Stock Up 1.7 %

NYSE:MODG opened at $8.54 on Thursday. 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 company 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. Topgolf Callaway Brands has a 52-week low of $8.23 and a 52-week high of $16.89. The stock has a 50-day simple moving average of $10.07 and a 200 day simple moving average of $12.82.

Institutional Trading of Topgolf Callaway Brands

A number of hedge funds have recently made changes to their positions in MODG. SG Americas Securities LLC lifted its holdings in Topgolf Callaway Brands by 50.8% during the 1st quarter. SG Americas Securities LLC now owns 35,142 shares of the company’s stock worth $568,000 after purchasing an additional 11,841 shares during the last quarter. Sei Investments Co. lifted its holdings in Topgolf Callaway Brands by 161.7% during the 1st quarter. Sei Investments Co. now owns 241,798 shares of the company’s stock worth $3,910,000 after purchasing an additional 149,402 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in Topgolf Callaway Brands during the 1st quarter worth approximately $178,000. US Bancorp DE lifted its holdings in Topgolf Callaway Brands by 1.4% during the 1st quarter. US Bancorp DE now owns 137,187 shares of the company’s stock worth $2,218,000 after purchasing an additional 1,922 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Topgolf Callaway Brands by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 28,982 shares of the company’s stock worth $469,000 after purchasing an additional 1,997 shares during the last quarter. 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.