Topgolf Callaway Brands Corp. (NYSE:MODG) Given Average Recommendation of “Hold” by Brokerages

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been given a consensus rating of “Hold” by the twelve research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $14.92.

MODG has been the topic of several analyst reports. Bank of America reduced their target price on 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 cut shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. Roth Mkm restated a “buy” rating and issued a $16.00 target price (down previously from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. Jefferies Financial Group cut shares of 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 report on Thursday, August 29th. Finally, Raymond James lowered Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research report on Friday, August 23rd.

Hedge Funds Weigh In On Topgolf Callaway Brands

Large investors have recently modified their holdings of the company. Fifth Third Bancorp lifted its position in Topgolf Callaway Brands by 327.6% in the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after acquiring an additional 1,936 shares in the last quarter. Dnca Finance purchased a new stake in Topgolf Callaway Brands in the 2nd quarter valued at $134,000. Koss Olinger Consulting LLC bought a new position in Topgolf Callaway Brands during the 2nd quarter valued at $160,000. Simon Quick Advisors LLC purchased a new position in Topgolf Callaway Brands during the 2nd quarter worth $161,000. Finally, Cetera Advisors LLC purchased a new stake in shares of Topgolf Callaway Brands in the first quarter valued at about $182,000. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Trading Down 6.1 %

NYSE MODG opened at $8.31 on Wednesday. The firm has a market capitalization of $1.53 billion, a PE ratio of -103.86, a price-to-earnings-growth ratio of 5.84 and a beta of 1.75. The business’s 50-day moving average price is $9.90 and its two-hundred day moving average price is $12.45. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands has a 12 month low of $7.95 and a 12 month high of $16.89.

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.