Topgolf Callaway Brands (NYSE:MODG) Price Target Cut to $12.00 by Analysts at The Goldman Sachs Group

Topgolf Callaway Brands (NYSE:MODG) had its price target trimmed by The Goldman Sachs Group from $14.00 to $12.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts also recently weighed in on the company. KeyCorp downgraded Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. TD Cowen reduced their price target 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. Jefferies Financial Group downgraded Topgolf Callaway Brands from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. B. Riley downgraded 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 report on Thursday, October 17th. Finally, Bank of America reduced their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $8.54 on Thursday. 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 stock has a 50-day moving average of $10.07 and a 200-day moving average of $12.77. Topgolf Callaway Brands has a one year low of $8.23 and a one year high of $16.89. The stock has a market cap of $1.57 billion, a PE ratio of -106.74, a price-to-earnings-growth ratio of 5.39 and a beta of 1.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp increased 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 worth $39,000 after purchasing an additional 1,936 shares during the period. nVerses Capital LLC bought a new position in shares of Topgolf Callaway Brands in the third quarter worth $133,000. Dnca Finance bought a new position in shares of Topgolf Callaway Brands in the second quarter worth $134,000. Koss Olinger Consulting LLC bought a new position in shares of Topgolf Callaway Brands in the second quarter worth $160,000. Finally, Simon Quick Advisors LLC bought a new position in shares of Topgolf Callaway Brands in the second quarter worth $161,000. Institutional investors own 84.69% of the company’s stock.

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.