Topgolf Callaway Brands Corp. (NYSE:MODG) Receives Average Rating of “Hold” from Analysts

Topgolf Callaway Brands Corp. (NYSE:MODG) has received an average recommendation of “Hold” from the twelve analysts that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $14.83.

MODG has been the topic of a number of research reports. The Goldman Sachs Group dropped 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, November 14th. 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 report on Thursday, October 17th. Truist Financial lowered their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning grew its position in shares of Topgolf Callaway Brands by 6.8% in the 2nd quarter. Creative Planning now owns 22,201 shares of the company’s stock worth $340,000 after buying an additional 1,415 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Topgolf Callaway Brands by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock worth $1,200,000 after purchasing an additional 1,888 shares during the period. Park Avenue Securities LLC raised its stake in shares of Topgolf Callaway Brands by 13.5% during the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock valued at $183,000 after buying an additional 1,985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Topgolf Callaway Brands by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 355,256 shares of the company’s stock valued at $3,901,000 after purchasing an additional 3,841 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Topgolf Callaway Brands by 16.3% in the 2nd quarter. Hsbc Holdings PLC now owns 37,151 shares of the company’s stock worth $567,000 after purchasing an additional 5,209 shares during the period. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Trading Down 0.1 %

Topgolf Callaway Brands stock opened at $8.13 on Thursday. Topgolf Callaway Brands has a one year low of $7.22 and a one year high of $16.89. The business’s fifty day moving average is $8.38 and its 200 day moving average is $10.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The stock has a market capitalization of $1.49 billion, a PE ratio of -101.61, a price-to-earnings-growth ratio of 5.39 and a beta of 1.70.

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.