JPMorgan Chase & Co. Lowers Topgolf Callaway Brands (NYSE:MODG) Price Target to $9.00

Topgolf Callaway Brands (NYSE:MODG) had its price objective dropped by analysts at JPMorgan Chase & Co. from $11.00 to $9.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 10.50% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Truist Financial decreased their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. B. Riley lowered shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $12.00 in a research note on Thursday, October 17th. The Goldman Sachs Group decreased 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. Finally, Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.67.

Topgolf Callaway Brands Trading Down 2.8 %

MODG stock traded down $0.24 during midday trading on Thursday, reaching $8.15. The company’s stock had a trading volume of 1,086,418 shares, compared to its average volume of 3,030,379. The business’s 50-day simple moving average is $8.23 and its 200-day simple moving average is $10.41. 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 52 week low of $7.22 and a 52 week high of $16.89. The stock has a market cap of $1.50 billion, a PE ratio of -101.94 and a beta of 1.70.

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of hedge funds have recently bought and sold shares of the business. Leonard Green & Partners L.P. bought a new position in shares of Topgolf Callaway Brands in the second quarter worth $97,173,000. Harbor Capital Advisors Inc. raised its holdings in shares of Topgolf Callaway Brands by 115.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock worth $18,059,000 after buying an additional 881,535 shares in the last quarter. LGT Capital Partners LTD. bought a new stake in shares of Topgolf Callaway Brands during the 3rd quarter worth $6,588,000. Squarepoint Ops LLC boosted its stake in Topgolf Callaway Brands by 1,002.2% in the second quarter. Squarepoint Ops LLC now owns 390,172 shares of the company’s stock valued at $5,970,000 after buying an additional 354,773 shares in the last quarter. Finally, Portolan Capital Management LLC bought a new position in Topgolf Callaway Brands in the third quarter valued at about $3,862,000. 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.