MCBC (MCFT) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of MCBC (NASDAQ:MCFT) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $28.00 price objective on the stock.

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 research analysts have also recently issued reports on the company. B. Riley raised their target price on MCBC from $28.00 to $29.25 and gave the stock a buy rating in a research report on Friday, February 9th. Robert W. Baird raised their price objective on MCBC from $24.00 to $29.00 and gave the stock an outperform rating in a research note on Friday, February 9th. ValuEngine raised MCBC from a hold rating to a buy rating in a research note on Friday, February 2nd. Finally, BidaskClub raised MCBC from a hold rating to a buy rating in a research note on Friday, January 26th. Seven analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and an average target price of $28.06.

Shares of MCBC (NASDAQ MCFT) traded up $0.86 during trading hours on Wednesday, reaching $25.16. The company’s stock had a trading volume of 321,300 shares, compared to its average volume of 195,538. The stock has a market capitalization of $453.90, a PE ratio of 19.81, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.62 and a quick ratio of 0.51. MCBC has a fifty-two week low of $14.59 and a fifty-two week high of $28.62.

MCBC (NASDAQ:MCFT) last announced its earnings results on Thursday, February 8th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.09. The business had revenue of $78.40 million for the quarter, compared to analysts’ expectations of $74.65 million. MCBC had a return on equity of 149.34% and a net margin of 9.07%. The business’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. equities analysts forecast that MCBC will post 1.79 earnings per share for the current year.

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

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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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