Topgolf Callaway Brands (NYSE:MODG) Price Target Lowered to $12.00 at Truist Financial

Topgolf Callaway Brands (NYSE:MODG) had its price target decreased by Truist Financial from $14.00 to $12.00 in a report published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

MODG has been the topic of a number of other research reports. B. Riley downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $12.00 in a research report on Thursday, October 17th. Roth Mkm reaffirmed a “buy” rating and set a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Bank of America cut their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. TD Cowen dropped their price target on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Two equities 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.83.

Topgolf Callaway Brands Stock Down 1.4 %

Topgolf Callaway Brands stock opened at $8.92 on Tuesday. 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 1-year low of $7.22 and a 1-year high of $16.89. The company has a fifty day simple moving average of $8.52 and a 200 day simple moving average of $10.91. The company has a market cap of $1.64 billion, a P/E ratio of -111.49, a price-to-earnings-growth ratio of 5.62 and a beta of 1.70.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of hedge funds and other institutional investors have recently modified their holdings of MODG. Sterneck Capital Management LLC raised its holdings in Topgolf Callaway Brands by 31.0% in the 4th quarter. Sterneck Capital Management LLC now owns 28,672 shares of the company’s stock valued at $225,000 after acquiring an additional 6,786 shares in the last quarter. Tidal Investments LLC increased its stake in Topgolf Callaway Brands by 35.7% in the third quarter. Tidal Investments LLC now owns 22,302 shares of the company’s stock valued at $245,000 after acquiring an additional 5,862 shares during the last quarter. Boyar Asset Management Inc. raised its position in Topgolf Callaway Brands by 17.5% during the third quarter. Boyar Asset Management Inc. now owns 104,540 shares of the company’s stock valued at $1,148,000 after purchasing an additional 15,532 shares in the last quarter. Geode Capital Management LLC lifted its stake in Topgolf Callaway Brands by 0.7% during the third quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock worth $35,749,000 after purchasing an additional 22,003 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of Topgolf Callaway Brands by 25.3% in the 3rd quarter. MML Investors Services LLC now owns 93,897 shares of the company’s stock valued at $1,031,000 after purchasing an additional 18,988 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

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.