Topgolf Callaway Brands (NYSE:MODG) Given New $7.00 Price Target at JPMorgan Chase & Co.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $8.00 to $7.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 10.41% from the stock's previous close.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. B. Riley started coverage on Topgolf Callaway Brands in a report on Friday, May 16th. They issued a "neutral" rating and a $7.00 price objective on the stock. Roth Mkm reaffirmed a "buy" rating and set a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, Truist Financial decreased their target price on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Topgolf Callaway Brands presently has an average rating of "Hold" and an average target price of $10.30.

Topgolf Callaway Brands Stock Down 1.1%

NYSE:MODG traded down $0.07 during trading hours on Tuesday, hitting $6.34. 2,136,828 shares of the company's stock traded hands, compared to its average volume of 2,756,198. The stock's fifty day moving average price is $6.51 and its two-hundred day moving average price is $7.28. The firm has a market cap of $1.16 billion, a P/E ratio of -79.24 and a beta of 1.25. 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 twelve month low of $5.42 and a twelve month high of $16.89.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.15. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.08 earnings per share. The firm's revenue was down 4.5% on a year-over-year basis. On average, research analysts expect that Topgolf Callaway Brands will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Topgolf Callaway Brands

In related news, Director Russell L. Fleischer bought 30,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $6.41 per share, with a total value of $192,300.00. Following the acquisition, the director now owns 116,187 shares in the company, valued at approximately $744,758.67. This represents a 34.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Oliver G. Brewer III purchased 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average cost of $6.40 per share, for a total transaction of $128,000.00. Following the purchase, the chief executive officer now owns 1,009,297 shares in the company, valued at $6,459,500.80. This represents a 2.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 60,000 shares of company stock worth $388,900 over the last three months. Company insiders own 2.40% of the company's stock.

Institutional Trading of Topgolf Callaway Brands

Several large investors have recently added to or reduced their stakes in MODG. Asset Planning Inc acquired a new position in shares of Topgolf Callaway Brands in the 4th quarter worth approximately $33,000. Sterling Capital Management LLC boosted its stake in Topgolf Callaway Brands by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock worth $36,000 after purchasing an additional 4,050 shares in the last quarter. KBC Group NV grew its holdings in shares of Topgolf Callaway Brands by 81.8% during the fourth quarter. KBC Group NV now owns 8,330 shares of the company's stock worth $65,000 after purchasing an additional 3,749 shares during the last quarter. Covestor Ltd increased its stake in shares of Topgolf Callaway Brands by 147.2% in the fourth quarter. Covestor Ltd now owns 9,286 shares of the company's stock valued at $73,000 after buying an additional 5,530 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of Topgolf Callaway Brands in the first quarter valued at about $66,000. 84.69% of the stock is owned by institutional investors.

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.