Analysts Set Topgolf Callaway Brands Corp. (NYSE:MODG) Price Target at $14.83

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have received an average rating of “Hold” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $14.83.

MODG has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on 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. Truist Financial decreased their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. Roth Mkm restated a “buy” rating and set a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. dropped their price objective on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of institutional investors have recently bought and sold shares of MODG. Leonard Green & Partners L.P. bought a new position in shares of Topgolf Callaway Brands during the 2nd quarter worth about $97,173,000. Dimensional Fund Advisors LP raised its position 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 worth $132,296,000 after purchasing an additional 1,549,222 shares in the last quarter. Granite Investment Partners LLC bought a new position in Topgolf Callaway Brands during the second quarter worth about $13,757,000. Harbor Capital Advisors Inc. boosted its holdings in Topgolf Callaway Brands by 115.5% during the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after purchasing an additional 881,535 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Topgolf Callaway Brands in the 2nd quarter valued at approximately $13,402,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

Shares of NYSE:MODG opened at $8.08 on Thursday. The stock has a market capitalization of $1.48 billion, a P/E ratio of -100.92 and a beta of 1.70. The business has a 50-day moving average of $8.28 and a two-hundred day moving average of $10.55. Topgolf Callaway Brands has a fifty-two week low of $7.22 and a fifty-two week high of $16.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14.

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.