Truist Financial Issues Pessimistic Forecast for Topgolf Callaway Brands (NYSE:MODG) Stock Price

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

A number of other equities analysts also recently issued reports on the stock. Bank of America cut their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. TD Cowen reduced their price objective on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, September 17th. Roth Mkm reissued a “buy” rating and set a $16.00 target price (down previously from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. JPMorgan Chase & Co. reduced their target price on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Finally, Jefferies Financial Group raised 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 report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.83.

Topgolf Callaway Brands Stock Down 3.3 %

Shares of Topgolf Callaway Brands stock opened at $8.63 on Tuesday. Topgolf Callaway Brands has a 52 week low of $7.22 and a 52 week high of $16.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The business has a 50 day moving average price of $8.47 and a 200-day moving average price of $10.87.

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Koss Olinger Consulting LLC bought a new position in Topgolf Callaway Brands in the 2nd quarter worth approximately $160,000. nVerses Capital LLC bought a new position in shares of Topgolf Callaway Brands in the third quarter worth $133,000. XTX Topco Ltd purchased a new position in shares of Topgolf Callaway Brands in the second quarter valued at $218,000. Quest Partners LLC bought a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at $161,000. Finally, Algert Global LLC purchased a new stake in Topgolf Callaway Brands during the 2nd quarter worth about $226,000. 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.