Topgolf Callaway Brands (NYSE:MODG) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Topgolf Callaway Brands (NYSE:MODG) from a hold rating to a buy rating in a research note published on Thursday morning, MarketBeat reports. The firm currently has $13.00 price target on the stock, up from their previous price target of $11.00.

Several other research firms also recently commented on MODG. B. Riley downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $12.00 in a research report on Thursday, October 17th. Bank of America reduced 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, September 12th. 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 for the company in a research report on Thursday, November 14th. JPMorgan Chase & Co. reduced their price target on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Finally, TD Cowen dropped their price objective on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.00.

Topgolf Callaway Brands Stock Performance

NYSE MODG opened at $9.38 on Thursday. Topgolf Callaway Brands has a twelve month low of $7.22 and a twelve month high of $16.89. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.72 billion, a P/E ratio of -117.24, a PEG ratio of 5.62 and a beta of 1.70. The company’s 50-day simple moving average is $8.56 and its 200 day simple moving average is $11.02.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MODG. Creative Planning boosted its stake 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 valued at $340,000 after purchasing an additional 1,415 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Topgolf Callaway Brands by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock valued at $1,200,000 after acquiring an additional 1,888 shares during the last quarter. Rhumbline Advisers grew its holdings in Topgolf Callaway Brands by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 462,111 shares of the company’s stock worth $7,070,000 after acquiring an additional 1,962 shares during the period. Park Avenue Securities LLC raised its position in shares of Topgolf Callaway Brands by 13.5% during the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock valued at $183,000 after acquiring an additional 1,985 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of Topgolf Callaway Brands by 28.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,458 shares of the company’s stock valued at $236,000 after acquiring an additional 3,396 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.

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.