Topgolf Callaway Brands (NYSE:MODG) Price Target Cut to $7.00 by Analysts at Truist Financial

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) had its price objective decreased by research analysts at Truist Financial from $12.00 to $7.00 in a note issued to investors on Monday, Marketbeat reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 13.91% from the company's previous close.

Several other brokerages have also recently issued reports on MODG. JPMorgan Chase & Co. lowered their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, January 23rd. Roth Mkm restated a "buy" rating and issued a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Finally, Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and raised their price target for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Topgolf Callaway Brands currently has an average rating of "Hold" and an average price target of $11.00.

Topgolf Callaway Brands Trading Down 0.1 %

MODG stock traded down $0.01 during midday trading on Monday, hitting $6.15. The stock had a trading volume of 2,688,724 shares, compared to its average volume of 2,666,623. Topgolf Callaway Brands has a 12-month low of $5.42 and a 12-month high of $16.89. The firm has a market cap of $1.13 billion, a PE ratio of -76.80 and a beta of 1.47. The company's 50-day moving average price is $6.48 and its 200 day moving average price is $7.98. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last released its earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.07. The firm had revenue of $924.40 million during the quarter, compared to analyst estimates of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. On average, equities research analysts predict that Topgolf Callaway Brands will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of Topgolf Callaway Brands

A number of hedge funds have recently made changes to their positions in MODG. Augustine Asset Management Inc. raised its stake in shares of Topgolf Callaway Brands by 7.4% in the 4th quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company's stock valued at $172,000 after purchasing an additional 1,500 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Topgolf Callaway Brands by 2.9% in the 4th quarter. MetLife Investment Management LLC now owns 82,820 shares of the company's stock worth $651,000 after acquiring an additional 2,303 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Topgolf Callaway Brands by 11.6% in the 4th quarter. Tidal Investments LLC now owns 24,898 shares of the company's stock valued at $196,000 after acquiring an additional 2,596 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Topgolf Callaway Brands by 7.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company's stock worth $293,000 after purchasing an additional 2,712 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Topgolf Callaway Brands by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,716 shares of the company's stock worth $634,000 after purchasing an additional 3,084 shares during the period. Institutional investors and hedge funds own 84.69% of the company's stock.

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.