MCBC (MCFT) Trading 0% Higher After Analyst Upgrade

MCBC Holdings Inc (NASDAQ:MCFT) shares were up 0% during mid-day trading on Monday after B. Riley raised their price target on the stock from $28.00 to $29.25. B. Riley currently has a buy rating on the stock. MCBC traded as high as $26.75 and last traded at $26.32. Approximately 691,900 shares traded hands during mid-day trading, an increase of 274% from the average daily volume of 184,928 shares. The stock had previously closed at $26.32.

Other research analysts have also issued research reports about the company. Robert W. Baird reaffirmed a “buy” rating on shares of MCBC in a report on Thursday, February 8th. ValuEngine raised MCBC from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub raised MCBC from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Finally, Zacks Investment Research raised MCBC from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Thursday, November 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $27.31.

A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its holdings in MCBC by 55.3% during the third quarter. Russell Investments Group Ltd. now owns 7,582 shares of the company’s stock worth $154,000 after acquiring an additional 2,700 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in MCBC by 1.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 188,737 shares of the company’s stock worth $3,690,000 after acquiring an additional 3,469 shares during the period. Mckinley Capital Management LLC Delaware boosted its position in MCBC by 1.6% during the third quarter. Mckinley Capital Management LLC Delaware now owns 245,980 shares of the company’s stock worth $5,013,000 after purchasing an additional 3,764 shares in the last quarter. Ameriprise Financial Inc. boosted its position in MCBC by 6.6% during the third quarter. Ameriprise Financial Inc. now owns 74,290 shares of the company’s stock worth $1,514,000 after purchasing an additional 4,576 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in MCBC by 5.5% during the second quarter. Teachers Advisors LLC now owns 102,399 shares of the company’s stock worth $2,002,000 after purchasing an additional 5,336 shares in the last quarter. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.51. The company has a market capitalization of $491.64, a PE ratio of 19.50, a P/E/G ratio of 1.11 and a beta of 1.25.

MCBC (NASDAQ:MCFT) last posted its earnings results on Thursday, February 8th. The company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.09. The company had revenue of $78.40 million for the quarter, compared to the consensus estimate of $74.65 million. MCBC had a return on equity of 196.87% and a net margin of 9.07%. MCBC’s quarterly revenue was up 53.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. research analysts expect that MCBC Holdings Inc will post 1.58 earnings per share for the current fiscal year.

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MCBC Company Profile

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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