Topgolf Callaway Brands (NYSE:MODG) Given Buy Rating at Roth Mkm

Roth Mkm restated their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG) in a research note published on Thursday,Benzinga reports. They currently have a $16.00 target price on the stock, down from their previous target price of $17.00.

Several other brokerages also recently issued reports on MODG. Morgan Stanley reduced their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. TD Cowen dropped their price target on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, September 17th. Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. B. Riley lowered shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $12.00 in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Stock Up 1.7 %

MODG stock opened at $8.54 on Thursday. Topgolf Callaway Brands has a 52 week low of $8.23 and a 52 week high of $16.89. The company has a market cap of $1.57 billion, a P/E ratio of -106.74, a P/E/G ratio of 5.39 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 company’s 50-day moving average price is $10.07 and its 200 day moving average price is $12.77.

Institutional Trading of Topgolf Callaway Brands

Large investors have recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of Topgolf Callaway Brands by 327.6% in the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after acquiring an additional 1,936 shares during the period. Dnca Finance acquired a new stake in shares of Topgolf Callaway Brands in the 2nd quarter worth about $134,000. Koss Olinger Consulting LLC acquired a new stake in shares of Topgolf Callaway Brands in the 2nd quarter worth about $160,000. Simon Quick Advisors LLC acquired a new stake in shares of Topgolf Callaway Brands in the 2nd quarter worth about $161,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Topgolf Callaway Brands in the 1st quarter worth about $178,000. 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.