Topgolf Callaway Brands (MODG) – Investment Analysts’ Weekly Ratings Changes

by · The Markets Daily

Several analysts have recently updated their ratings and price targets for Topgolf Callaway Brands (NYSE: MODG):

  • 11/14/2024 – Topgolf Callaway Brands had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $14.00 to $12.00. They now have a “neutral” rating on the stock.
  • 11/14/2024 – Topgolf Callaway Brands had its “buy” rating reaffirmed by analysts at Roth Mkm. They now have a $16.00 price target on the stock, down previously from $17.00.
  • 11/13/2024 – Topgolf Callaway Brands had its price target lowered by analysts at JPMorgan Chase & Co. from $13.00 to $11.00. They now have a “neutral” rating on the stock.
  • 11/13/2024 – Topgolf Callaway Brands had its price target lowered by analysts at Truist Financial Co. from $16.00 to $14.00. They now have a “buy” rating on the stock.
  • 10/17/2024 – Topgolf Callaway Brands was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating. They now have a $12.00 price target on the stock, down previously from $18.00.

Topgolf Callaway Brands Trading Down 4.9 %

Shares of NYSE:MODG traded down $0.43 during trading on Tuesday, reaching $8.42. 522,137 shares of the stock were exchanged, compared to its average volume of 2,508,973. Topgolf Callaway Brands Corp. has a 12-month low of $7.95 and a 12-month high of $16.89. The firm’s 50-day moving average price is $9.90 and its 200 day moving average price is $12.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -105.24, a price-to-earnings-growth ratio of 5.84 and a beta of 1.75.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp increased its stake in Topgolf Callaway Brands by 327.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after buying an additional 1,936 shares during the period. nVerses Capital LLC purchased a new stake in shares of Topgolf Callaway Brands during the third quarter worth about $133,000. Dnca Finance acquired a new position in shares of Topgolf Callaway Brands in the second quarter worth about $134,000. Koss Olinger Consulting LLC purchased a new position in Topgolf Callaway Brands in the second quarter valued at about $160,000. Finally, Simon Quick Advisors LLC acquired a new stake in Topgolf Callaway Brands during the 2nd quarter valued at approximately $161,000. 84.69% of the stock is owned by institutional investors and hedge funds.

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.

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