Topgolf Callaway Brands Corp. (NYSE:MODG) Receives $14.67 Consensus PT from Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) have been given a consensus recommendation of “Hold” by the twelve research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $14.67.

MODG has been the subject of a number of research analyst reports. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their target price for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. B. Riley lowered Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $12.00 in a research report on Thursday, October 17th. The Goldman Sachs Group dropped 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 report on Thursday, November 14th. Roth Mkm reiterated a “buy” rating and issued a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. Finally, Truist Financial lowered their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Topgolf Callaway Brands Trading Down 4.1 %

Shares of NYSE MODG opened at $7.28 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands has a twelve month low of $7.16 and a twelve month high of $16.89. The company’s fifty day moving average is $8.07 and its 200-day moving average is $9.64. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -90.99 and a beta of 1.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. boosted its position in shares of Topgolf Callaway Brands by 97.6% during the 4th quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock worth $16,919,000 after acquiring an additional 1,063,033 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Topgolf Callaway Brands by 115.5% in the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after buying an additional 881,535 shares during the period. ExodusPoint Capital Management LP bought a new stake in Topgolf Callaway Brands in the fourth quarter valued at $4,769,000. LGT Capital Partners LTD. acquired a new position in Topgolf Callaway Brands during the 3rd quarter worth approximately $6,588,000. Finally, Portolan Capital Management LLC acquired a new position in shares of Topgolf Callaway Brands during the third quarter worth approximately $3,862,000. 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.