Topgolf Callaway Brands (NYSE:MODG – Get Free Report) had its price objective lowered by research analysts at Truist Financial from $14.00 to $12.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 33.19% from the company’s previous close.
Several other research firms have also commented on MODG. Roth Mkm reaffirmed a “buy” rating and set a $16.00 target price (down from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. JPMorgan Chase & Co. dropped their price objective on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. TD Cowen decreased 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 research note on Tuesday, September 17th. The Goldman Sachs Group dropped 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 research report on Thursday, November 14th. Finally, B. Riley downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $18.00 to $12.00 in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.83.
Get Our Latest Stock Analysis on Topgolf Callaway Brands
Topgolf Callaway Brands Stock Performance
Institutional Investors Weigh In On Topgolf Callaway Brands
Several institutional investors and hedge funds have recently added to or reduced their stakes in MODG. nVerses Capital LLC acquired a new stake in shares of Topgolf Callaway Brands in the third quarter valued at about $133,000. Koss Olinger Consulting LLC acquired a new stake in shares of Topgolf Callaway Brands in the second quarter valued at approximately $160,000. Quest Partners LLC purchased a new position in Topgolf Callaway Brands during the third quarter worth approximately $161,000. International Assets Investment Management LLC boosted its stake in Topgolf Callaway Brands by 998.0% during the third quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock worth $165,000 after buying an additional 13,663 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in Topgolf Callaway Brands by 13.5% in the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock valued at $183,000 after buying an additional 1,985 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.
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.
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