Topgolf Callaway Brands (NYSE:MODG) Given New $12.00 Price Target at The Goldman Sachs Group

Topgolf Callaway Brands (NYSE:MODG) had its target price decreased by equities research analysts at The Goldman Sachs Group from $14.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 40.02% from the stock’s current price.

MODG has been the subject of several other research reports. Morgan Stanley lowered their price target on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Thursday, August 8th. TD Cowen lowered their target price on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. Truist Financial cut their price target on shares of Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. lowered 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 research note on Wednesday. Finally, Bank of America cut their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. 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 presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Topgolf Callaway Brands Trading Down 9.2 %

Topgolf Callaway Brands stock opened at $8.57 on Thursday. The stock has a market cap of $1.58 billion, a PE ratio of -107.11, a P/E/G ratio of 6.06 and a beta of 1.75. 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 stock has a 50-day moving average price of $10.14 and a 200 day moving average price of $12.90. Topgolf Callaway Brands has a 52 week low of $8.54 and a 52 week high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.20. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $981.29 million. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.21%. Equities research analysts predict that Topgolf Callaway Brands will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of institutional investors have recently added to or reduced their stakes in MODG. Louisiana State Employees Retirement System increased its position in shares of Topgolf Callaway Brands by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company’s stock worth $1,088,000 after acquiring an additional 700 shares during the last quarter. Creative Planning raised its position in shares of Topgolf Callaway Brands by 6.8% in the 2nd quarter. Creative Planning now owns 22,201 shares of the company’s stock valued at $340,000 after purchasing an additional 1,415 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Topgolf Callaway Brands by 5.2% during the 2nd quarter. SG Americas Securities LLC now owns 36,961 shares of the company’s stock valued at $566,000 after buying an additional 1,819 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Topgolf Callaway Brands by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock worth $1,200,000 after buying an additional 1,888 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Topgolf Callaway Brands by 2.0% in the first quarter. Blair William & Co. IL now owns 96,389 shares of the company’s stock worth $1,559,000 after buying an additional 1,899 shares during 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.