Topgolf Callaway Brands (NYSE:MODG) Receives “Buy” Rating from Roth Mkm

Topgolf Callaway Brands (NYSE:MODG)‘s stock had its “buy” rating restated by Roth Mkm in a note issued to investors on Thursday,Benzinga reports. They currently have a $16.00 target price on the stock, down from their previous target price of $17.00. Roth Mkm’s price target suggests a potential upside of 86.48% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. JPMorgan Chase & Co. decreased 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 report on Wednesday. Bank of America lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. The Goldman Sachs Group decreased their price target 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. Finally, TD Cowen lowered their price objective on 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Topgolf Callaway Brands presently has an average rating of “Hold” and an average price target of $14.92.

Topgolf Callaway Brands Stock Performance

Shares of NYSE MODG traded up $0.01 during trading hours on Thursday, reaching $8.58. 413,850 shares of the stock were exchanged, compared to its average volume of 2,503,413. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -107.24, a P/E/G ratio of 6.06 and a beta of 1.75. The stock’s fifty day simple moving average is $10.14 and its 200 day simple moving average is $12.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93. Topgolf Callaway Brands has a 52 week low of $8.54 and a 52 week high of $16.89.

Institutional Trading of Topgolf Callaway Brands

Several hedge funds have recently bought and sold shares of MODG. Louisiana State Employees Retirement System raised its holdings in Topgolf Callaway Brands by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company’s stock worth $1,088,000 after buying an additional 700 shares during the last quarter. Creative Planning increased its position in shares of Topgolf Callaway Brands by 6.8% during the second quarter. Creative Planning now owns 22,201 shares of the company’s stock worth $340,000 after acquiring an additional 1,415 shares in the last quarter. SG Americas Securities LLC raised its holdings 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 acquiring an additional 1,819 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in 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 valued at $1,200,000 after acquiring an additional 1,888 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in Topgolf Callaway Brands by 2.0% during the 1st quarter. Blair William & Co. IL now owns 96,389 shares of the company’s stock valued at $1,559,000 after purchasing an additional 1,899 shares during the last quarter. 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.