Topgolf Callaway Brands (NYSE:MODG) Receives “Buy” Rating from Roth Mkm

Roth Mkm reiterated their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG) in a research note published on Thursday morning,Benzinga reports. Roth Mkm currently has a $16.00 price objective on the stock, down from their previous price objective of $17.00.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group dropped their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday. Jefferies Financial Group lowered Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their price objective for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. KeyCorp lowered Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. Truist Financial reduced their price objective on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Bank of America dropped their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Topgolf Callaway Brands currently has a consensus rating of “Hold” and a consensus price target of $14.92.

Topgolf Callaway Brands Stock Up 1.0 %

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its holdings in shares of Topgolf Callaway Brands by 50.8% during the first 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 during the last quarter. Sei Investments Co. lifted its holdings in shares of Topgolf Callaway Brands by 161.7% during the 1st quarter. Sei Investments Co. now owns 241,798 shares of the company’s stock valued at $3,910,000 after acquiring an additional 149,402 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Topgolf Callaway Brands in the 1st quarter worth $178,000. US Bancorp DE lifted its holdings in Topgolf Callaway Brands by 1.4% in the 1st quarter. US Bancorp DE now owns 137,187 shares of the company’s stock worth $2,218,000 after buying an additional 1,922 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Topgolf Callaway Brands by 7.4% in the first quarter. ProShare Advisors LLC now owns 28,982 shares of the company’s stock worth $469,000 after purchasing an additional 1,997 shares during the period. 84.69% of the stock is currently owned by institutional investors and hedge funds.

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.