Topgolf Callaway Brands (NYSE:MODG) Given New $12.00 Price Target at The Goldman Sachs Group

Topgolf Callaway Brands (NYSE:MODG) had its price target reduced by The Goldman Sachs Group from $14.00 to $12.00 in a research report released on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. TD Cowen dropped their price target on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th. B. Riley downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Roth Mkm reiterated a “buy” rating and issued a $17.00 price objective on shares of Topgolf Callaway Brands in a report on Thursday, September 5th. Bank of America decreased their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, Morgan Stanley decreased their price objective on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.92.

Topgolf Callaway Brands Price Performance

NYSE:MODG traded up $0.13 during trading hours on Thursday, hitting $8.53. 1,632,216 shares of the company’s stock traded hands, compared to its average volume of 2,510,645. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $10.10 and its two-hundred day simple moving average is $12.87. Topgolf Callaway Brands has a 52 week low of $8.23 and a 52 week high of $16.89. The firm has a market cap of $1.57 billion, a P/E ratio of -106.63, a P/E/G ratio of 8.62 and a beta of 1.75.

Institutional Trading of Topgolf Callaway Brands

A number of hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its position in shares of Topgolf Callaway Brands by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company’s stock worth $1,088,000 after purchasing an additional 700 shares in the last quarter. Creative Planning boosted its position in shares of Topgolf Callaway Brands by 6.8% in the 2nd quarter. Creative Planning now owns 22,201 shares of the company’s stock worth $340,000 after purchasing an additional 1,415 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Topgolf Callaway Brands by 5.2% in the 2nd quarter. SG Americas Securities LLC now owns 36,961 shares of the company’s stock worth $566,000 after purchasing an additional 1,819 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Topgolf Callaway Brands by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock worth $1,200,000 after purchasing an additional 1,888 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Topgolf Callaway Brands by 2.0% in the 1st quarter. Blair William & Co. IL now owns 96,389 shares of the company’s stock worth $1,559,000 after purchasing an additional 1,899 shares in the last quarter. 84.69% of the stock is owned by institutional investors.

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.