Topgolf Callaway Brands (NYSE:MODG) Sets New 52-Week Low – Time to Sell?

Topgolf Callaway Brands Corp. (NYSE:MODG)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $7.16 and last traded at $7.25, with a volume of 122508 shares traded. The stock had previously closed at $7.30.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial decreased their target price 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. JPMorgan Chase & Co. lowered their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. The Goldman Sachs Group cut their target price on shares of 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. Jefferies Financial Group upgraded 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 report on Thursday, January 2nd. Finally, Roth Mkm reissued a “buy” rating and issued a $16.00 price objective (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.67.

Topgolf Callaway Brands Stock Up 0.9 %

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 stock has a market cap of $1.35 billion, a price-to-earnings ratio of -92.05 and a beta of 1.70. The business has a fifty day moving average of $8.10 and a 200 day moving average of $9.72.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Asset Planning Inc bought a new position in Topgolf Callaway Brands during the fourth quarter valued at about $33,000. KBC Group NV increased its position in shares of Topgolf Callaway Brands by 81.8% during the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after purchasing an additional 3,749 shares during the period. Xponance Inc. bought a new position in Topgolf Callaway Brands in the fourth quarter worth $87,000. Cibc World Markets Corp acquired a new stake in Topgolf Callaway Brands during the fourth quarter worth $104,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Topgolf Callaway Brands by 170.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company’s stock worth $108,000 after acquiring an additional 8,672 shares during the period. 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.