MCBC (MCFT) Downgraded by BidaskClub to Hold

MCBC (NASDAQ:MCFT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other brokerages also recently issued reports on MCFT. Zacks Investment Research raised MCBC from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Wednesday, September 19th. Wells Fargo & Co lifted their target price on MCBC from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. They noted that the move was a valuation call. B. Riley lifted their target price on MCBC from $36.50 to $44.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Raymond James lifted their target price on MCBC from $36.00 to $44.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 20th. Finally, Robert W. Baird lifted their target price on MCBC from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, September 11th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $40.33.

Shares of NASDAQ MCFT traded up $0.63 during mid-day trading on Thursday, hitting $31.11. The company had a trading volume of 174,645 shares, compared to its average volume of 230,726. MCBC has a 12 month low of $20.13 and a 12 month high of $39.50.

MCBC (NASDAQ:MCFT) last announced its quarterly earnings results on Thursday, September 6th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.15. The company had revenue of $95.43 million during the quarter, compared to the consensus estimate of $89.29 million. The company’s revenue for the quarter was up 63.6% on a year-over-year basis. During the same period last year, the business posted $0.35 EPS.

A number of institutional investors have recently made changes to their positions in MCFT. Voya Investment Management LLC bought a new stake in MCBC during the 2nd quarter valued at $201,000. Capital Fund Management S.A. bought a new stake in MCBC during the 2nd quarter valued at $208,000. Mackay Shields LLC bought a new stake in MCBC during the 2nd quarter valued at $226,000. Dynamic Technology Lab Private Ltd bought a new stake in MCBC during the 2nd quarter valued at $340,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in MCBC during the 2nd quarter valued at $365,000. 93.73% of the stock is currently owned by hedge funds and other institutional investors.

About MCBC

MCBC Holdings, Inc, through its subsidiaries, innovates, designs, manufactures, and markets sport boats and outboard boats in North America and internationally. The company's boats are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating. It also provides various accessories, such as trailers and aftermarket parts.

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Analyst Recommendations for MCBC (NASDAQ:MCFT)

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