Topgolf Callaway Brands (NYSE:MODG) Given New $11.00 Price Target at JPMorgan Chase & Co.

Topgolf Callaway Brands (NYSE:MODG) had its price objective lowered by JPMorgan Chase & Co. from $13.00 to $11.00 in a research note released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

MODG has been the topic of a number of other research reports. Morgan Stanley decreased their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, August 8th. Truist Financial dropped their price target on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 8th. TD Cowen lowered their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, September 17th. The Goldman Sachs Group reduced their target price on shares of Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Raymond James lowered shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research report on Friday, August 23rd. Two 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.92.

Topgolf Callaway Brands Trading Up 1.7 %

MODG stock opened at $8.54 on Wednesday. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -106.75, a price-to-earnings-growth ratio of 8.62 and a beta of 1.75. The company has a fifty day moving average price of $10.07 and a two-hundred day moving average price of $12.80. Topgolf Callaway Brands has a one year low of $8.23 and a one year high of $16.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several hedge funds have recently modified their holdings of MODG. Leonard Green & Partners L.P. acquired a new stake in Topgolf Callaway Brands in the second quarter valued at $97,173,000. Dimensional Fund Advisors LP grew its holdings in Topgolf Callaway Brands by 21.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock worth $132,296,000 after acquiring an additional 1,549,222 shares during the period. American Century Companies Inc. raised its position in shares of Topgolf Callaway Brands by 60.8% in the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock worth $48,634,000 after acquiring an additional 1,202,347 shares in the last quarter. Granite Investment Partners LLC acquired a new position in shares of Topgolf Callaway Brands in the 2nd quarter valued at about $13,757,000. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Topgolf Callaway Brands by 115.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after purchasing an additional 881,535 shares in the last quarter. Institutional investors and hedge funds 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.