JPMorgan Chase & Co. Issues Pessimistic Forecast for Topgolf Callaway Brands (NYSE:MODG) Stock Price

Topgolf Callaway Brands (NYSE:MODGGet Free Report) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $11.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 12.29% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of 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 target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $12.00 in a research note on Thursday, October 17th. Roth Mkm reiterated a “buy” rating and issued a $16.00 target price (down previously from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Finally, Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their price target for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Topgolf Callaway Brands has an average rating of “Hold” and a consensus price target of $14.67.

Read Our Latest Research Report on MODG

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $8.02 on Thursday. 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 company’s fifty day moving average price is $8.21 and its two-hundred day moving average price is $10.35. The firm has a market capitalization of $1.47 billion, a P/E ratio of -100.17 and a beta of 1.70. Topgolf Callaway Brands has a 12 month low of $7.22 and a 12 month high of $16.89.

Institutional Trading of Topgolf Callaway Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in MODG. Leonard Green & Partners L.P. acquired a new position in Topgolf Callaway Brands in the 2nd quarter worth approximately $97,173,000. Charles Schwab Investment Management Inc. boosted its position in shares of Topgolf Callaway Brands by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock worth $21,912,000 after buying an additional 148,451 shares during the period. PDT Partners LLC purchased a new position in shares of Topgolf Callaway Brands during the third quarter valued at $1,934,000. Harbor Capital Advisors Inc. raised its position 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 buying an additional 881,535 shares during the period. Finally, Empowered Funds LLC purchased a new stake in Topgolf Callaway Brands in the 3rd quarter worth about $3,396,000. 84.69% of the stock is currently owned by institutional investors.

About Topgolf Callaway Brands

(Get Free Report)

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.

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