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

Topgolf Callaway Brands (NYSE:MODG)‘s stock had its “buy” rating reaffirmed by investment analysts at Roth Mkm in a research note issued 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 objective suggests a potential upside of 87.35% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. TD Cowen reduced their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. B. Riley lowered shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $12.00 in a research note on Thursday, October 17th. Morgan Stanley lowered their price objective on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut their target price on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group cut Topgolf Callaway Brands from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $12.00 in a report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Topgolf Callaway Brands presently has an average rating of “Hold” and a consensus price target of $14.92.

Topgolf Callaway Brands Stock Performance

MODG stock opened at $8.54 on Thursday. Topgolf Callaway Brands has a 12-month low of $8.23 and a 12-month high of $16.89. The stock’s 50 day simple moving average is $10.07 and its 200 day simple moving average is $12.82. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $1.57 billion, a PE ratio of -106.75, a price-to-earnings-growth ratio of 8.62 and a beta of 1.75.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MODG. Fifth Third Bancorp lifted its holdings in Topgolf Callaway Brands by 327.6% during the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after purchasing an additional 1,936 shares in the last quarter. nVerses Capital LLC bought a new position in Topgolf Callaway Brands in the 3rd quarter worth $133,000. Dnca Finance purchased a new stake in Topgolf Callaway Brands in the 2nd quarter worth $134,000. Koss Olinger Consulting LLC bought a new stake in Topgolf Callaway Brands during the second quarter valued at about $160,000. Finally, Simon Quick Advisors LLC purchased a new position in shares of Topgolf Callaway Brands in the second quarter valued at about $161,000. 84.69% of the stock is currently 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.