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

Topgolf Callaway Brands Corp. (NYSE:MODG) has earned a consensus rating of “Hold” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Two 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. The average twelve-month price target among brokerages that have covered the stock in the last year is $14.92.

A number of equities analysts recently commented on the company. Truist Financial decreased 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. TD Cowen lowered their price target on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. B. Riley cut 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 research note on Thursday, October 17th. Roth Mkm reiterated a “buy” rating and set a $16.00 target price (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Finally, Jefferies Financial Group downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th.

Hedge Funds Weigh In On Topgolf Callaway Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Topgolf Callaway Brands by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after acquiring an additional 81,021 shares during the period. Dimensional Fund Advisors LP grew its position in Topgolf Callaway Brands by 21.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock valued at $132,296,000 after buying an additional 1,549,222 shares in the last quarter. Leonard Green & Partners L.P. bought a new stake in shares of Topgolf Callaway Brands during the 2nd quarter worth about $97,173,000. Geode Capital Management LLC lifted its stake in shares of Topgolf Callaway Brands by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock worth $35,749,000 after acquiring an additional 22,003 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Topgolf Callaway Brands by 60.8% in the second quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock valued at $48,634,000 after acquiring an additional 1,202,347 shares in the last quarter. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Price Performance

Shares of MODG stock opened at $8.21 on Wednesday. The firm has a fifty day moving average of $9.68 and a two-hundred day moving average of $12.21. The firm has a market cap of $1.51 billion, a P/E ratio of -102.55, a P/E/G ratio of 5.82 and a beta of 1.70. Topgolf Callaway Brands has a 1-year low of $7.95 and a 1-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.

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.