JPMorgan Chase & Co. Cuts Topgolf Callaway Brands (NYSE:MODG) Price Target to $9.00

Topgolf Callaway Brands (NYSE:MODGFree Report) had its target price reduced by JPMorgan Chase & Co. from $11.00 to $9.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group reduced their price target on 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. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $12.00 in a research report on Thursday, October 17th. 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 research report on Thursday, January 2nd. Truist Financial decreased 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. Finally, 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 report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.67.

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Topgolf Callaway Brands Stock Performance

Shares of MODG opened at $8.02 on Thursday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -100.17 and a beta of 1.70. The company’s fifty day moving average is $8.21 and its 200-day moving average is $10.32. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands has a 12 month low of $7.22 and a 12 month high of $16.89.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several hedge funds have recently made changes to their positions in MODG. Leonard Green & Partners L.P. acquired a new stake in Topgolf Callaway Brands during the second quarter worth $97,173,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Topgolf Callaway Brands by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock worth $21,912,000 after acquiring an additional 148,451 shares during the period. PDT Partners LLC acquired a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at about $1,934,000. Harbor Capital Advisors Inc. increased its stake in Topgolf Callaway Brands by 115.5% in the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after acquiring an additional 881,535 shares during the period. Finally, Empowered Funds LLC acquired a new position in Topgolf Callaway Brands in the third quarter worth about $3,396,000. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Company Profile

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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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Analyst Recommendations for Topgolf Callaway Brands (NYSE:MODG)

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