Topgolf Callaway Brands (NYSE:MODG) Given New $14.00 Price Target at Truist Financial

Topgolf Callaway Brands (NYSE:MODG) had its target price decreased by equities research analysts at Truist Financial from $16.00 to $14.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 66.77% from the company’s current price.

Several other brokerages also recently weighed in on MODG. Morgan Stanley lowered their price objective on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Thursday, August 8th. Bank of America cut their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Roth Mkm reaffirmed a “buy” rating and set a $17.00 price objective on shares of Topgolf Callaway Brands in a research note on Thursday, September 5th. Raymond James cut Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group cut Topgolf Callaway Brands from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.92.

Topgolf Callaway Brands Stock Performance

MODG opened at $8.40 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. Topgolf Callaway Brands has a 52 week low of $8.29 and a 52 week high of $16.89. The business’s fifty day simple moving average is $10.10 and its 200 day simple moving average is $12.87.

Institutional Trading of Topgolf Callaway Brands

Several institutional investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp boosted its holdings in Topgolf Callaway Brands by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 124,043 shares of the company’s stock worth $2,006,000 after purchasing an additional 1,633 shares during the last quarter. SG Americas Securities LLC increased its position in Topgolf Callaway Brands by 50.8% during the first quarter. SG Americas Securities LLC now owns 35,142 shares of the company’s stock valued at $568,000 after acquiring an additional 11,841 shares during the last quarter. Sei Investments Co. lifted its holdings in Topgolf Callaway Brands by 161.7% in the first quarter. Sei Investments Co. now owns 241,798 shares of the company’s stock valued at $3,910,000 after acquiring an additional 149,402 shares during the period. QRG Capital Management Inc. bought a new stake in shares of Topgolf Callaway Brands during the 1st quarter valued at about $178,000. Finally, US Bancorp DE increased its position in shares of Topgolf Callaway Brands by 1.4% during the 1st quarter. US Bancorp DE now owns 137,187 shares of the company’s stock valued at $2,218,000 after purchasing an additional 1,922 shares during the last quarter. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

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.