JPMorgan Chase & Co. Increases Topgolf Callaway Brands (NYSE:MODG) Price Target to $10.00

Topgolf Callaway Brands (NYSE:MODG) had its price target raised by JPMorgan Chase & Co. from $9.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 5.48% from the stock’s previous close.

Several other equities analysts have also recently issued reports on MODG. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Morgan Stanley initiated coverage on shares of Topgolf Callaway Brands in a report on Friday, July 18th. They set an “equal weight” rating and a $9.50 price objective for the company. Truist Financial lifted their target price on shares of Topgolf Callaway Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Zacks Research lowered shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, UBS Group assumed coverage on Topgolf Callaway Brands in a research note on Friday, October 17th. They issued a “neutral” rating and a $10.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.69.

Topgolf Callaway Brands Price Performance

Shares of NYSE MODG opened at $10.58 on Wednesday. The firm has a market cap of $1.95 billion, a P/E ratio of -1.30 and a beta of 1.19. Topgolf Callaway Brands has a twelve month low of $5.42 and a twelve month high of $10.98. The company has a quick ratio of 1.25, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $9.50 and a 200 day moving average of $8.67.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16. The business had revenue of $465.30 million during the quarter, compared to analyst estimates of $903.96 million. Topgolf Callaway Brands had a positive return on equity of 0.37% and a negative net margin of 36.08%.The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS. Topgolf Callaway Brands has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts expect that Topgolf Callaway Brands will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of institutional investors have recently bought and sold shares of MODG. Signaturefd LLC grew its holdings in Topgolf Callaway Brands by 1,669.0% during the second quarter. Signaturefd LLC now owns 3,078 shares of the company’s stock valued at $25,000 after purchasing an additional 2,904 shares during the period. Johnson Financial Group Inc. lifted its position in shares of Topgolf Callaway Brands by 5,092.9% during the 3rd quarter. Johnson Financial Group Inc. now owns 3,635 shares of the company’s stock valued at $35,000 after buying an additional 3,565 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Topgolf Callaway Brands by 42.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,893 shares of the company’s stock valued at $37,000 after acquiring an additional 1,157 shares during the period. GAMMA Investing LLC purchased a new stake in Topgolf Callaway Brands in the 2nd quarter worth approximately $36,000. Finally, CWM LLC boosted its position in shares of Topgolf Callaway Brands by 124.0% in the second quarter. CWM LLC now owns 4,679 shares of the company’s stock worth $38,000 after purchasing an additional 2,590 shares during the period. 84.69% of the stock is owned by 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.