Jefferies Financial Group Upgrades Topgolf Callaway Brands (NYSE:MODG) to “Buy”

Jefferies Financial Group upgraded shares of Topgolf Callaway Brands (NYSE:MODG) from a hold rating to a buy rating in a research note released on Thursday, MarketBeat Ratings reports. The brokerage currently has $13.00 price target on the stock, up from their prior price target of $11.00.

A number of other equities analysts have also recently weighed in on MODG. Roth Mkm reissued a “buy” rating and set a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Bank of America reduced their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. B. Riley downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Truist Financial cut their price objective on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, TD Cowen lowered their target price on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Topgolf Callaway Brands presently has an average rating of “Hold” and a consensus target price of $15.00.

Topgolf Callaway Brands Stock Up 4.2 %

Topgolf Callaway Brands stock opened at $9.38 on Thursday. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -117.24, a PEG ratio of 5.62 and a beta of 1.70. The company’s 50 day simple moving average is $8.56 and its 200 day simple moving average is $11.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. Topgolf Callaway Brands has a fifty-two week low of $7.22 and a fifty-two week high of $16.89.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in MODG. Koss Olinger Consulting LLC acquired a new stake in shares of Topgolf Callaway Brands in the second quarter valued at about $160,000. Simon Quick Advisors LLC bought a new position in Topgolf Callaway Brands in the second quarter valued at approximately $161,000. nVerses Capital LLC acquired a new position in shares of Topgolf Callaway Brands during the 3rd quarter worth approximately $133,000. XTX Topco Ltd bought a new stake in shares of Topgolf Callaway Brands during the 2nd quarter worth approximately $218,000. Finally, Quest Partners LLC acquired a new stake in shares of Topgolf Callaway Brands in the 3rd quarter valued at approximately $161,000. 84.69% of the stock is 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.