Topgolf Callaway Brands’ (MODG) Buy Rating Reaffirmed at Roth Mkm

Roth Mkm reissued their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $16.00 target price on the stock, down from their prior target price of $17.00.

A number of other equities research analysts also recently weighed in on the stock. TD Cowen reduced their price target on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, September 17th. KeyCorp cut Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. Truist Financial dropped their price objective on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday. The Goldman Sachs Group decreased their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their target price on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Trading Up 1.0 %

MODG traded up $0.08 during midday trading on Thursday, hitting $8.48. The company had a trading volume of 1,434,605 shares, compared to its average volume of 2,509,755. The firm’s 50-day simple moving average is $10.10 and its 200-day simple moving average is $12.87. Topgolf Callaway Brands has a twelve month low of $8.23 and a twelve month high of $16.89. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several institutional investors and hedge funds have recently bought and sold shares of the business. Portolan Capital Management LLC bought a new stake in Topgolf Callaway Brands in the third quarter valued at about $3,862,000. Holocene Advisors LP increased its stake in shares of Topgolf Callaway Brands by 68.6% during the third quarter. Holocene Advisors LP now owns 36,570 shares of the company’s stock worth $402,000 after purchasing an additional 14,885 shares during the period. Arizona PSPRS Trust bought a new position in Topgolf Callaway Brands during the 3rd quarter worth $1,696,000. Paloma Partners Management Co acquired a new stake in shares of Topgolf Callaway Brands in the 3rd quarter valued at $200,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Topgolf Callaway Brands in the 3rd quarter valued at $417,000. Institutional investors 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.