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

Topgolf Callaway Brands (NYSE:MODG) had its target price decreased by JPMorgan Chase & Co. from $11.00 to $9.00 in a research report report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other brokerages have also recently commented on MODG. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Roth Mkm restated a “buy” rating and issued a $16.00 price objective (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Truist Financial lowered their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $12.00 in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group lowered their target price on 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.67.

Topgolf Callaway Brands Trading Down 3.5 %

Shares of NYSE:MODG opened at $8.09 on Thursday. Topgolf Callaway Brands has a 52 week low of $7.22 and a 52 week high of $16.89. The company’s 50 day moving average is $8.22 and its two-hundred day moving average is $10.39. The company has a market cap of $1.49 billion, a PE ratio of -101.05 and a beta of 1.70. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Institutional Trading of Topgolf Callaway Brands

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