Truist Financial Lowers Topgolf Callaway Brands (NYSE:MODG) Price Target to $12.00

Topgolf Callaway Brands (NYSE:MODG) had its price target decreased by stock analysts at Truist Financial from $14.00 to $12.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 33.19% from the company’s previous close.

MODG has been the subject of a number of other research reports. The Goldman Sachs Group lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. B. Riley downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $12.00 in a report on Thursday, October 17th. Roth Mkm reaffirmed a “buy” rating and set a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. JPMorgan Chase & Co. cut their price objective on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Finally, Bank of America decreased 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.83.

Topgolf Callaway Brands Trading Down 0.4 %

MODG stock traded down $0.04 during trading on Tuesday, hitting $9.01. 380,591 shares of the company traded hands, compared to its average volume of 4,301,597. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. Topgolf Callaway Brands has a 1 year low of $7.22 and a 1 year high of $16.89. The company has a 50-day moving average of $8.54 and a 200-day moving average of $10.95. The firm has a market capitalization of $1.66 billion, a PE ratio of -112.61, a P/E/G ratio of 5.62 and a beta of 1.70.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Leonard Green & Partners L.P. purchased a new position in Topgolf Callaway Brands during the second quarter valued at approximately $97,173,000. Charles Schwab Investment Management Inc. raised its position in shares of Topgolf Callaway Brands by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock worth $21,912,000 after acquiring an additional 148,451 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of Topgolf Callaway Brands during the 3rd quarter worth $1,934,000. Harbor Capital Advisors Inc. boosted its position in Topgolf Callaway Brands by 115.5% during the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after purchasing an additional 881,535 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in Topgolf Callaway Brands in the third quarter valued at about $3,396,000. Hedge funds and other institutional investors 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.