Topgolf Callaway Brands (NYSE:MODG) Hits New 52-Week Low – Time to Sell?

Topgolf Callaway Brands Corp. (NYSE:MODG) reached a new 52-week low during trading on Friday . The company traded as low as $7.10 and last traded at $7.11, with a volume of 1010400 shares. The stock had previously closed at $7.23.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and increased their target price for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. cut their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. 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. Truist Financial cut their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. 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 note on Thursday, November 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.36.

Topgolf Callaway Brands Price Performance

The firm has a market capitalization of $1.29 billion, a PE ratio of -87.68 and a beta of 1.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The firm has a 50-day simple moving average of $7.96 and a 200-day simple moving average of $9.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Asset Planning Inc purchased a new position in Topgolf Callaway Brands in the fourth quarter worth about $33,000. Sterling Capital Management LLC boosted its position 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 during the last quarter. KBC Group NV boosted its position in Topgolf Callaway Brands by 81.8% in 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 boosted its position in Topgolf Callaway Brands by 147.2% in the fourth quarter. Covestor Ltd now owns 9,286 shares of the company’s stock worth $73,000 after purchasing an additional 5,530 shares during the last quarter. Finally, FORA Capital LLC bought a new position in shares of Topgolf Callaway Brands in the fourth quarter worth about $81,000. 84.69% of the stock is owned by hedge funds and other 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.