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

Topgolf Callaway Brands Corp. (NYSE:MODG) has earned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $14.83.

MODG has been the subject of several research analyst reports. B. Riley downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Truist Financial reduced their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. 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 report on Wednesday, November 13th. Finally, Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd.

Topgolf Callaway Brands Stock Performance

Shares of MODG opened at $8.39 on Thursday. Topgolf Callaway Brands has a 1 year low of $7.22 and a 1 year high of $16.89. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -104.80 and a beta of 1.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The firm has a fifty day moving average of $8.23 and a 200-day moving average of $10.41.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several institutional investors and hedge funds have recently bought and sold shares of MODG. Envestnet Asset Management Inc. grew its stake in Topgolf Callaway Brands by 18.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 236,597 shares of the company’s stock valued at $3,620,000 after acquiring an additional 37,376 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Topgolf Callaway Brands by 21.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock valued at $132,296,000 after acquiring an additional 1,549,222 shares in the last quarter. Hsbc Holdings PLC grew its stake in Topgolf Callaway Brands by 16.3% during the 2nd quarter. Hsbc Holdings PLC now owns 37,151 shares of the company’s stock valued at $567,000 after acquiring an additional 5,209 shares in the last quarter. XTX Topco Ltd purchased a new position in Topgolf Callaway Brands during the 2nd quarter valued at about $218,000. Finally, Granite Investment Partners LLC purchased a new position in Topgolf Callaway Brands during the 2nd quarter valued at about $13,757,000. Hedge funds and other institutional investors 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.