Truist Financial Cuts Topgolf Callaway Brands (NYSE:MODG) Price Target to $12.00

Topgolf Callaway Brands (NYSE:MODG) had its price target decreased by Truist Financial from $14.00 to $12.00 in a research report released on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

MODG has been the topic of several other reports. TD Cowen cut their target price on shares of 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. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. Bank of America lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $12.00 in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group cut their price objective 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 equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Topgolf Callaway Brands has an average rating of “Hold” and an average target price of $14.83.

Topgolf Callaway Brands Price Performance

Topgolf Callaway Brands stock opened at $8.92 on Tuesday. The stock has a 50-day moving average price of $8.52 and a two-hundred day moving average price of $10.91. Topgolf Callaway Brands has a 12 month low of $7.22 and a 12 month high of $16.89. The company has a market capitalization of $1.64 billion, a PE ratio of -111.49, a P/E/G ratio of 5.62 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 Investors Weigh In On Topgolf Callaway Brands

Hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Topgolf Callaway Brands in the 3rd quarter valued at $133,000. Koss Olinger Consulting LLC acquired a new position in shares of Topgolf Callaway Brands during the second quarter valued at about $160,000. Quest Partners LLC bought a new stake in shares of Topgolf Callaway Brands during the third quarter worth about $161,000. International Assets Investment Management LLC lifted its position in Topgolf Callaway Brands by 998.0% in the 3rd quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock valued at $165,000 after acquiring an additional 13,663 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Topgolf Callaway Brands by 13.5% during the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock valued at $183,000 after purchasing an additional 1,985 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.