The Goldman Sachs Group Has Lowered Expectations for Topgolf Callaway Brands (NYSE:MODG) Stock Price

Topgolf Callaway Brands (NYSE:MODG) had its price objective trimmed by The Goldman Sachs Group from $14.00 to $12.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

MODG has been the subject of a number of other research reports. Truist Financial cut their target price on shares of Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday. B. Riley downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $12.00 in a research note on Thursday, October 17th. JPMorgan Chase & Co. reduced their price target on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday. Jefferies Financial Group lowered Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. Finally, KeyCorp lowered shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research note on Thursday, August 8th. Two equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.92.

Topgolf Callaway Brands Stock Up 1.7 %

Shares of MODG opened at $8.54 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. Topgolf Callaway Brands has a 1 year low of $8.23 and a 1 year high of $16.89. The stock has a 50 day simple moving average of $10.07 and a 200-day simple moving average of $12.80.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several large investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in Topgolf Callaway Brands by 50.8% during the 1st quarter. SG Americas Securities LLC now owns 35,142 shares of the company’s stock worth $568,000 after purchasing an additional 11,841 shares in the last quarter. Sei Investments Co. raised its position in Topgolf Callaway Brands by 161.7% in the 1st quarter. Sei Investments Co. now owns 241,798 shares of the company’s stock valued at $3,910,000 after buying an additional 149,402 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Topgolf Callaway Brands in the 1st quarter valued at approximately $178,000. US Bancorp DE boosted its position in Topgolf Callaway Brands by 1.4% during the 1st quarter. US Bancorp DE now owns 137,187 shares of the company’s stock worth $2,218,000 after acquiring an additional 1,922 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Topgolf Callaway Brands by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 28,982 shares of the company’s stock worth $469,000 after acquiring an additional 1,997 shares in the last quarter. Institutional investors 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.