Truist Financial Has Lowered Expectations for Topgolf Callaway Brands (NYSE:MODG) Stock Price

Topgolf Callaway Brands (NYSE:MODG) had its price target trimmed by Truist Financial from $16.00 to $14.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

MODG has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price target on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday. Roth Mkm reaffirmed a “buy” rating and set a $17.00 target price on shares of Topgolf Callaway Brands in a research note on Thursday, September 5th. Bank of America reduced their target price 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, September 12th. KeyCorp downgraded shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research note on Thursday, August 8th. Finally, Raymond James cut Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.92.

Topgolf Callaway Brands Price Performance

MODG stock opened at $8.54 on Wednesday. The business’s fifty day moving average price is $10.07 and its 200 day moving average price is $12.80. Topgolf Callaway Brands has a 12-month low of $8.23 and a 12-month high of $16.89. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.57 billion, a PE ratio of -106.75, a P/E/G ratio of 8.62 and a beta of 1.75.

Institutional Investors Weigh In On Topgolf Callaway Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Topgolf Callaway Brands by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after buying an additional 81,021 shares during the last quarter. Dimensional Fund Advisors LP lifted 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 valued at $132,296,000 after purchasing an additional 1,549,222 shares during the period. Leonard Green & Partners L.P. purchased a new stake in Topgolf Callaway Brands in the 2nd quarter valued at approximately $97,173,000. Geode Capital Management LLC increased its position in Topgolf Callaway Brands by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock worth $35,749,000 after purchasing an additional 22,003 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Topgolf Callaway Brands by 60.8% during the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock worth $48,634,000 after buying an additional 1,202,347 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

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.