The Goldman Sachs Group Lowers Topgolf Callaway Brands (NYSE:MODG) Price Target to $12.00

Topgolf Callaway Brands (NYSE:MODG) had its target price cut by equities researchers at The Goldman Sachs Group from $14.00 to $12.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 40.52% from the stock’s current price.

Several other equities analysts have also issued reports on MODG. Jefferies Financial Group lowered Topgolf Callaway Brands from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. Raymond James lowered Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd. Bank of America cut their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. B. Riley lowered Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their price target for the company from $18.00 to $12.00 in a research note on Thursday, October 17th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $17.00 price target on shares of Topgolf Callaway Brands in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.92.

Topgolf Callaway Brands Price Performance

Topgolf Callaway Brands stock 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. Topgolf Callaway Brands has a 52 week low of $8.23 and a 52 week high of $16.89. The firm has a market cap of $1.57 billion, a P/E ratio of -106.75, a P/E/G ratio of 8.62 and a beta of 1.75. The business’s fifty day moving average is $10.07 and its two-hundred day moving average is $12.82.

Institutional Investors Weigh In On Topgolf Callaway Brands

Large investors have recently modified their holdings of the business. UniSuper Management Pty Ltd bought a new stake in shares of Topgolf Callaway Brands in the first quarter worth about $643,000. Leonard Green & Partners L.P. bought a new stake in shares of Topgolf Callaway Brands in the second quarter worth about $97,173,000. Quadrature Capital Ltd bought a new stake in shares of Topgolf Callaway Brands in the first quarter worth about $677,000. Vanguard Group Inc. increased its holdings in shares of Topgolf Callaway Brands by 0.5% in the first quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after acquiring an additional 81,021 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Topgolf Callaway Brands by 115.5% in the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock worth $18,059,000 after acquiring an additional 881,535 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors.

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.