Zacks Investment Research Upgrades MCBC Holdings, Inc. (MCFT) to “Buy”

MCBC Holdings, Inc. (NASDAQ:MCFT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage presently has a $25.00 price target on the stock. Zacks Investment Research‘s price target indicates a potential upside of 16.33% from the stock’s current price.

According to Zacks, “MCBC Holdings, Inc. is a designer, manufacturer and marketer of MasterCraft brand premium performance sport boats. The Company offers water skiing, wakeboarding and luxury performance powerboats. MCBC Holdings, Inc. is headquartered Vonore, United States. “

MCFT has been the subject of a number of other reports. BidaskClub downgraded MCBC Holdings from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. KeyCorp initiated coverage on MCBC Holdings in a report on Wednesday, August 30th. They issued an “overweight” rating for the company. TheStreet raised MCBC Holdings from a “d+” rating to a “b-” rating in a report on Thursday, September 7th. Aegis initiated coverage on MCBC Holdings in a report on Monday, October 2nd. They issued a “buy” rating and a $26.00 price target for the company. Finally, B. Riley reaffirmed a “buy” rating and issued a $24.00 price target (up from $21.50) on shares of MCBC Holdings in a report on Tuesday, October 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $25.00.

Shares of MCBC Holdings (MCFT) traded down $0.40 on Thursday, reaching $21.49. The company had a trading volume of 301,300 shares, compared to its average volume of 144,945. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.59 and a quick ratio of 0.27. The firm has a market capitalization of $407.97, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 0.90 and a beta of 1.27. MCBC Holdings has a 52-week low of $12.73 and a 52-week high of $23.42.

MCBC Holdings (NASDAQ:MCFT) last announced its quarterly earnings results on Friday, November 10th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. The firm had revenue of $65.00 million during the quarter, compared to the consensus estimate of $62.84 million. MCBC Holdings had a return on equity of 313.55% and a net margin of 8.43%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. equities research analysts predict that MCBC Holdings will post 1.62 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of MCFT. Hood River Capital Management LLC purchased a new stake in MCBC Holdings in the second quarter valued at approximately $8,167,000. AJO LP lifted its stake in MCBC Holdings by 253.5% in the second quarter. AJO LP now owns 391,357 shares of the company’s stock valued at $7,651,000 after buying an additional 280,653 shares during the last quarter. Renaissance Technologies LLC lifted its stake in MCBC Holdings by 32.6% in the second quarter. Renaissance Technologies LLC now owns 772,900 shares of the company’s stock valued at $15,110,000 after buying an additional 189,900 shares during the last quarter. Vanguard Group Inc. lifted its stake in MCBC Holdings by 23.4% in the first quarter. Vanguard Group Inc. now owns 941,794 shares of the company’s stock valued at $15,229,000 after buying an additional 178,652 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in MCBC Holdings by 176.8% in the second quarter. Goldman Sachs Group Inc. now owns 238,631 shares of the company’s stock valued at $4,665,000 after buying an additional 152,415 shares during the last quarter. Institutional investors own 93.94% of the company’s stock.

About MCBC Holdings

MCBC Holdings, Inc (MCBC) is a holding company. The Company is a designer and manufacturer of inboard tournament ski boats and V-drive runabouts under the MasterCraft brand. The Company operates through two segments: MasterCraft and Hydra-Sports. The MasterCraft product brand consists of recreational performance boats primarily used for water skiing, wakeboarding and wake surfing, and general recreational boating.

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