Topgolf Callaway Brands (NYSE:MODG) Price Target Lowered to $9.00 at JPMorgan Chase & Co.

Topgolf Callaway Brands (NYSE:MODG) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $11.00 to $9.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 10.50% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their price target for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. 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. Truist Financial lowered their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group reduced their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, B. Riley lowered shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $12.00 in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.67.

Topgolf Callaway Brands Trading Down 2.8 %

Shares of NYSE:MODG traded down $0.24 during midday trading on Thursday, hitting $8.15. 1,086,418 shares of the stock were exchanged, compared to its average volume of 3,030,379. The business’s 50-day moving average price is $8.23 and its 200 day moving average price is $10.41. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -101.94 and a beta of 1.70. Topgolf Callaway Brands has a 12 month low of $7.22 and a 12 month high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93.

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in shares of Topgolf Callaway Brands by 18.8% during the second quarter. Envestnet Asset Management Inc. now owns 236,597 shares of the company’s stock worth $3,620,000 after acquiring an additional 37,376 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Topgolf Callaway Brands by 16.3% during the second quarter. Hsbc Holdings PLC now owns 37,151 shares of the company’s stock valued at $567,000 after buying an additional 5,209 shares during the last quarter. XTX Topco Ltd purchased a new stake in Topgolf Callaway Brands during the 2nd quarter valued at about $218,000. Sei Investments Co. increased its stake in Topgolf Callaway Brands by 61.8% in the 2nd quarter. Sei Investments Co. now owns 391,343 shares of the company’s stock worth $5,987,000 after purchasing an additional 149,545 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in shares of Topgolf Callaway Brands by 6.8% during the second quarter. Public Sector Pension Investment Board now owns 310,981 shares of the company’s stock valued at $4,758,000 after purchasing an additional 19,761 shares during the period. 84.69% of the stock is currently owned by hedge funds and other 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.