MCBC (MCFT) Upgraded by BidaskClub to “Buy”

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BidaskClub upgraded shares of MCBC (NASDAQ:MCFT) from a hold rating to a buy rating in a research note issued to investors on Friday.

Several other analysts have also recently weighed in on the stock. ValuEngine upgraded shares of MCBC from a hold rating to a buy rating in a research note on Friday. Zacks Investment Research upgraded shares of MCBC from a sell rating to a hold rating in a research note on Saturday, September 1st. Finally, SunTrust Banks reiterated a hold rating and issued a $26.00 price objective on shares of MCBC in a research note on Friday, July 20th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $30.10.

Shares of NASDAQ MCFT traded up $4.86 during mid-day trading on Friday, reaching $34.57. 823,289 shares of the company were exchanged, compared to its average volume of 123,037. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.33 and a current ratio of 0.70. The stock has a market cap of $554.96 million, a PE ratio of 17.03, a P/E/G ratio of 0.88 and a beta of 1.09. MCBC has a twelve month low of $17.89 and a twelve month high of $34.68.

MCBC (NASDAQ:MCFT) last posted its earnings results on Thursday, September 6th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.15. The company had revenue of $95.43 million during the quarter, compared to analysts’ expectations of $89.29 million. MCBC had a net margin of 11.92% and a return on equity of 131.33%. MCBC’s quarterly revenue was up 63.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 EPS. analysts predict that MCBC will post 2.24 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in MCBC by 1.8% in the 2nd quarter. BlackRock Inc. now owns 2,265,353 shares of the company’s stock worth $65,583,000 after purchasing an additional 40,893 shares in the last quarter. Renaissance Technologies LLC raised its stake in MCBC by 14.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,463,800 shares of the company’s stock worth $42,377,000 after purchasing an additional 187,200 shares in the last quarter. Wells Fargo & Company MN raised its stake in MCBC by 42.9% in the 2nd quarter. Wells Fargo & Company MN now owns 598,381 shares of the company’s stock worth $17,324,000 after purchasing an additional 179,691 shares in the last quarter. Hood River Capital Management LLC raised its stake in MCBC by 2.1% in the 1st quarter. Hood River Capital Management LLC now owns 469,127 shares of the company’s stock worth $11,822,000 after purchasing an additional 9,849 shares in the last quarter. Finally, Millennium Management LLC raised its stake in MCBC by 18.1% in the 2nd quarter. Millennium Management LLC now owns 464,076 shares of the company’s stock worth $13,435,000 after purchasing an additional 71,031 shares in the last quarter. Institutional investors and hedge funds own 94.06% 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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