Topgolf Callaway Brands’ (MODG) “Buy” Rating Reiterated at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG) in a research note released on Thursday morning,Benzinga reports. Roth Mkm currently has a $16.00 price objective on the stock, down from their prior price objective of $17.00.

A number of other equities analysts also recently issued reports on the stock. Morgan Stanley cut their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Thursday, August 8th. B. Riley cut shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $12.00 in a report on Thursday, October 17th. Truist Financial decreased their price target on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America dropped their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. decreased their target price on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have given 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 a consensus rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Trading Up 1.7 %

Shares of MODG stock opened at $8.54 on Thursday. The business’s fifty day moving average price is $10.07 and its 200 day moving average price is $12.80. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands has a 1-year low of $8.23 and a 1-year high of $16.89.

Institutional Trading of Topgolf Callaway Brands

A number of hedge funds have recently added to or reduced their stakes in MODG. Vanguard Group Inc. boosted its position in shares of Topgolf Callaway Brands by 0.5% in the first quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after acquiring an additional 81,021 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Topgolf Callaway Brands by 21.8% during the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock worth $132,296,000 after purchasing an additional 1,549,222 shares during the period. Leonard Green & Partners L.P. purchased a new position in Topgolf Callaway Brands during the second quarter worth approximately $97,173,000. Geode Capital Management LLC grew its stake in shares of Topgolf Callaway Brands by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock valued at $35,749,000 after buying an additional 22,003 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Topgolf Callaway Brands by 60.8% during the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock valued at $48,634,000 after buying an additional 1,202,347 shares during the period. 84.69% of the stock is owned by institutional investors and hedge funds.

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.