Brokerages Set Topgolf Callaway Brands Corp. (NYSE:MODG) PT at $14.92

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

A number of research analysts have recently commented on MODG shares. Truist Financial dropped their price target on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. The Goldman Sachs Group cut their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. TD Cowen lowered their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th. Bank of America dropped their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, Roth Mkm reissued a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th.

Institutional Investors Weigh In On Topgolf Callaway Brands

Large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its stake in shares of 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 buying an additional 1,936 shares during the period. Koss Olinger Consulting LLC bought a new position in Topgolf Callaway Brands in the second quarter worth approximately $160,000. Simon Quick Advisors LLC acquired a new stake in Topgolf Callaway Brands in the second quarter valued at approximately $161,000. nVerses Capital LLC bought a new stake in shares of Topgolf Callaway Brands during the third quarter valued at approximately $133,000. Finally, XTX Topco Ltd acquired a new position in shares of Topgolf Callaway Brands during the second quarter worth approximately $218,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

Shares of NYSE:MODG opened at $7.80 on Friday. Topgolf Callaway Brands has a one year low of $7.22 and a one year high of $16.89. 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 has a market cap of $1.43 billion, a price-to-earnings ratio of -97.49, a PEG ratio of 5.62 and a beta of 1.70. The firm has a 50 day simple moving average of $8.96 and a 200 day simple moving average of $11.44.

About Topgolf Callaway Brands

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.