MCBC (MCFT) Lifted to Buy at Zacks Investment Research

MCBC (NASDAQ:MCFT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $28.00 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 15.23% from the company’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. “

Several other analysts also recently commented on MCFT. B. Riley restated a “buy” rating and set a $24.00 price objective on shares of MCBC in a research report on Friday, November 10th. Robert W. Baird restated a “buy” rating on shares of MCBC in a research report on Friday, November 10th. ValuEngine downgraded shares of MCBC from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, BidaskClub downgraded shares of MCBC from a “buy” rating to a “hold” rating in a research report on Thursday, December 14th. Seven equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $28.06.

MCBC (NASDAQ MCFT) opened at $24.30 on Wednesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.51. MCBC has a 52-week low of $14.58 and a 52-week high of $28.62. The firm has a market cap of $462.68, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.25.

MCBC (NASDAQ:MCFT) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.09. The firm had revenue of $78.40 million for the quarter, compared to the consensus estimate of $74.65 million. MCBC had a net margin of 9.07% and a return on equity of 196.87%. The company’s revenue was up 53.4% on a year-over-year basis. During the same period last year, the firm earned $0.26 EPS. sell-side analysts predict that MCBC will post 1.72 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in MCFT. Schwab Charles Investment Management Inc. raised its position in shares of MCBC by 96.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 29,900 shares of the company’s stock valued at $585,000 after purchasing an additional 14,700 shares during the period. Teachers Advisors LLC grew its stake in MCBC by 5.5% during the second quarter. Teachers Advisors LLC now owns 102,399 shares of the company’s stock valued at $2,002,000 after acquiring an additional 5,336 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in MCBC by 6.3% during the second quarter. TIAA CREF Investment Management LLC now owns 133,003 shares of the company’s stock valued at $2,600,000 after acquiring an additional 7,928 shares in the last quarter. Nationwide Fund Advisors grew its stake in MCBC by 222.1% during the second quarter. Nationwide Fund Advisors now owns 13,969 shares of the company’s stock valued at $273,000 after acquiring an additional 9,632 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in MCBC by 931.0% during the second quarter. New York State Common Retirement Fund now owns 59,809 shares of the company’s stock valued at $1,169,000 after acquiring an additional 54,008 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

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About MCBC

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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