Topgolf Callaway Brands (NYSE:MODG) Upgraded by Jefferies Financial Group to Buy Rating

Topgolf Callaway Brands (NYSE:MODG) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm presently has a $13.00 price target on the stock, up from their previous price target of $11.00. Jefferies Financial Group’s price objective indicates a potential upside of 65.39% from the company’s current price.

A number of other brokerages have also recently weighed in on MODG. Bank of America decreased their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Truist Financial dropped their target price on shares of Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price target on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. The Goldman Sachs Group lowered their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, Roth Mkm reissued a “buy” rating and issued a $16.00 target price (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.00.

Topgolf Callaway Brands Price Performance

NYSE MODG opened at $7.86 on Thursday. The company has a market cap of $1.44 billion, a PE ratio of -98.24, a P/E/G ratio of 5.62 and a beta of 1.70. The firm’s 50 day moving average price is $8.63 and its 200-day moving average price is $11.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. Topgolf Callaway Brands has a 52-week low of $7.22 and a 52-week high of $16.89.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MODG. Creative Planning raised its holdings in shares of Topgolf Callaway Brands by 6.8% during the second quarter. Creative Planning now owns 22,201 shares of the company’s stock valued at $340,000 after acquiring an additional 1,415 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Topgolf Callaway Brands by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock valued at $1,200,000 after purchasing an additional 1,888 shares during the last quarter. Rhumbline Advisers lifted its holdings in Topgolf Callaway Brands by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 462,111 shares of the company’s stock valued at $7,070,000 after purchasing an additional 1,962 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Topgolf Callaway Brands by 13.5% during the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock worth $183,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Topgolf Callaway Brands by 28.2% in the second quarter. Crossmark Global Holdings Inc. now owns 15,458 shares of the company’s stock worth $236,000 after buying an additional 3,396 shares in the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

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.