Topgolf Callaway Brands (NYSE:MODG) Given New $11.00 Price Target at JPMorgan Chase & Co.

Topgolf Callaway Brands (NYSE:MODG) had its target price trimmed by JPMorgan Chase & Co. from $13.00 to $11.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts also recently commented on MODG. TD Cowen lowered their target price on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. Morgan Stanley dropped their target price 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. Bank of America reduced 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 dropped their price target on Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, KeyCorp downgraded Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.00.

Topgolf Callaway Brands Trading Up 0.6 %

MODG opened at $8.62 on Wednesday. Topgolf Callaway Brands has a fifty-two week low of $8.54 and a fifty-two week high of $16.89. The firm has a market capitalization of $1.58 billion, a PE ratio of -107.11, a P/E/G ratio of 6.06 and a beta of 1.75. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. The company’s 50-day moving average is $10.14 and its 200 day moving average is $12.90.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.20. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $981.29 million. Topgolf Callaway Brands had a positive return on equity of 1.21% and a negative net margin of 0.29%. As a group, research analysts predict that Topgolf Callaway Brands will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Topgolf Callaway Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its position in shares of Topgolf Callaway Brands by 327.6% in 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 during the period. Dnca Finance purchased a new stake in Topgolf Callaway Brands during the 2nd quarter worth about $134,000. Koss Olinger Consulting LLC bought a new position in Topgolf Callaway Brands in the 2nd quarter worth about $160,000. Simon Quick Advisors LLC purchased a new position in Topgolf Callaway Brands during the 2nd quarter valued at about $161,000. Finally, QRG Capital Management Inc. bought a new stake in shares of Topgolf Callaway Brands during the first quarter valued at about $178,000. 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.