Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report)'s share price traded up 4.3% during trading on Monday . The stock traded as high as $7.79 and last traded at $7.77. 1,003,036 shares changed hands during trading, a decline of 60% from the average session volume of 2,498,585 shares. The stock had previously closed at $7.45.
MODG has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, November 14th. Jefferies Financial Group downgraded Topgolf Callaway Brands from a "buy" rating to a "hold" rating and reduced their price objective for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. Bank of America lowered their target price 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. Truist Financial lowered their price objective 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. Finally, JPMorgan Chase & Co. dropped their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Topgolf Callaway Brands currently has an average rating of "Hold" and an average target price of $14.92.
Check Out Our Latest Stock Analysis on MODG
The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.41 billion, a PE ratio of -95.61, a PEG ratio of 5.62 and a beta of 1.70. The company has a 50-day moving average price of $9.02 and a two-hundred day moving average price of $11.49.
Several hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp raised its holdings in shares of Topgolf Callaway Brands by 327.6% in the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company's stock valued at $39,000 after acquiring an additional 1,936 shares in the last quarter. nVerses Capital LLC purchased a new stake in Topgolf Callaway Brands in the third quarter valued at approximately $133,000. Koss Olinger Consulting LLC bought a new stake in Topgolf Callaway Brands during the second quarter valued at approximately $160,000. Simon Quick Advisors LLC purchased a new position in Topgolf Callaway Brands in the 2nd quarter worth approximately $161,000. Finally, Quest Partners LLC bought a new position in shares of Topgolf Callaway Brands in the 3rd quarter worth $161,000. Hedge funds and other institutional investors own 84.69% of the company's stock.
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.
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