MCBC (MCFT) Upgraded to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of MCBC (NASDAQ:MCFT) from a buy rating to a strong-buy rating in a research note released on Saturday morning.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of MCBC from a sell rating to a hold rating in a research report on Saturday, September 1st. SunTrust Banks reiterated a hold rating and set a $26.00 price target on shares of MCBC in a research report on Friday, July 20th. Robert W. Baird lifted their price target on shares of MCBC from $38.00 to $42.00 and gave the company an outperform rating in a research report on Tuesday, September 11th. B. Riley lifted their price target on shares of MCBC from $28.00 to $36.50 and gave the company a buy rating in a research report on Friday, September 7th. Finally, ValuEngine cut shares of MCBC from a buy rating to a hold rating in a research report on Wednesday, July 4th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $32.70.

Shares of MCFT opened at $36.31 on Friday. MCBC has a 1-year low of $18.21 and a 1-year high of $37.63. The stock has a market cap of $688.38 million, a price-to-earnings ratio of 17.89, a P/E/G ratio of 1.05 and a beta of 1.09. The company has a quick ratio of 0.33, a current ratio of 0.73 and a debt-to-equity ratio of 1.33.

MCBC (NASDAQ:MCFT) last announced its quarterly earnings results on Thursday, September 6th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.15. MCBC had a net margin of 11.92% and a return on equity of 108.42%. The business had revenue of $95.43 million during the quarter, compared to analysts’ expectations of $89.29 million. During the same period last year, the business earned $0.35 earnings per share. The business’s revenue for the quarter was up 63.6% on a year-over-year basis. equities research analysts predict that MCBC will post 2.34 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in MCFT. Wells Fargo & Company MN increased its position in shares of MCBC by 0.8% during the first quarter. Wells Fargo & Company MN now owns 418,690 shares of the company’s stock valued at $10,551,000 after acquiring an additional 3,363 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of MCBC in the first quarter valued at approximately $226,000. First Mercantile Trust Co. purchased a new position in shares of MCBC in the first quarter valued at approximately $194,000. Columbus Circle Investors purchased a new position in shares of MCBC in the first quarter valued at approximately $4,131,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of MCBC in the first quarter valued at approximately $120,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

About MCBC

MCBC Holdings, Inc, through its subsidiaries, innovates, designs, manufactures, and markets recreational sport boats in North America and internationally. The company offers recreational performance sport boats, which are primarily used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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