A number of research firms have changed their ratings and price targets for ClubCorp Holdings (NYSE: MYCC):

  • 9/16/2016 – ClubCorp Holdings was upgraded by analysts at Imperial Capital from an “in-line” rating to an “outperform” rating. They now have a $21.00 price target on the stock, up previously from $14.00. They wrote, “We see potential for the letter to compel management and the board to re-focus ClubCorp’s strategy and more fully unlock the value of its assets, which include 30K owned acres and several trophy properties. Additionally, MYCC generates approximately $150 million in annual operating free cash, allowing for more aggressive share buybacks or debt pay-down,” analyst George Kelly wrote in a note.Related Link: What Clubs Will Tiger Woods Use For His Comeback?Kelly also sees potential for ClubCorp to be the target of an acquirer at levels above the current trading given its strong operating cash flow and is nearing the end of a heavy acquisition and investment cycle.”We believe the spending cycle will fall in 2018 and approach more normal levels, returning to a MSD percent range of revenue. Private equity firms have historically been very active in the golf, leisure, and fitness spaces,”
  • 9/16/2016 – ClubCorp Holdings had its “buy” rating reaffirmed by analysts at FBR & Co. They now have a $17.00 price target on the stock. They wrote, “On September 15, 2016, FrontFour Capital Group, which holds ~3.4% of MYCC (part of initial IPO), delivered a letter to CEO Eric Affeldt, explaining its belief that poor investor messaging has led to depressed valuation and urging the board to pursue strategic alternatives, including a potential sale of the company. The issues listed were nothing new to investors and have been talked about for some time now. We believe management has been doing a good job trying to ease concerns and address these issues. However, even with the stock up 32% since our initiation on June 29, 2016, vs. the S&P 500 up 4%, we agree with FrontFour that the stock remains undervalued, and we expect to see continued appreciation as it should become clearer that fundamentals are intact, many of these concerns are nonissues, and reinvention capital and leverage come down.””
  • 9/13/2016 – ClubCorp Holdings had its price target lowered by analysts at Citigroup Inc. from $17.50 to $17.00. They now have a “buy” rating on the stock.
  • 9/9/2016 – ClubCorp Holdings had its “buy” rating reaffirmed by analysts at Stifel Nicolaus.
  • 9/2/2016 – ClubCorp Holdings had its “buy” rating reaffirmed by analysts at Jefferies Group.
  • 8/19/2016 – ClubCorp Holdings was given a new $22.00 price target on by analysts at MKM Partners. They now have a “buy” rating on the stock.

Shares of ClubCorp Holdings Inc (NYSE:MYCC) opened at 16.55 on Thursday. ClubCorp Holdings Inc has a 52-week low of $9.75 and a 52-week high of $23.04. The stock has a 50 day moving average of $14.78 and a 200-day moving average of $13.65. The stock’s market capitalization is $1.09 billion.

ClubCorp Holdings (NYSE:MYCC) last issued its quarterly earnings data on Thursday, July 14th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by $0.04. ClubCorp Holdings had a negative return on equity of 1.25% and a negative net margin of 0.74%. The business earned $269 million during the quarter. ClubCorp Holdings’s revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts predict that ClubCorp Holdings Inc will post $0.22 EPS for the current fiscal year.

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In other news, EVP Andrew V. Miller sold 2,000 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $14.94, for a total value of $29,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.90% of the company’s stock.

ClubCorp Holdings, Inc is a membership-based leisure company. The Company is the owner-operator of private golf and country clubs, and business, sports and alumni clubs in North America. The Company’s segments include Golf and Country Clubs; Business, Sports and Alumni Clubs, and Other. The Company’s Golf and country club operations consist of private country clubs, golf clubs and public golf facilities.

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