Zacks Investment Research Downgrades MCBC (MCFT) to Strong Sell

MCBC (NASDAQ:MCFT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

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. “

A number of other brokerages also recently commented on MCFT. ValuEngine downgraded MCBC from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. B. Riley reaffirmed a “buy” rating and issued a $24.00 price objective on shares of MCBC in a research report on Friday, November 10th. BidaskClub downgraded MCBC from a “buy” rating to a “hold” rating in a research report on Thursday, December 14th. Robert W. Baird reissued a “buy” rating on shares of MCBC in a research report on Friday, November 10th. Finally, Aegis began coverage on MCBC in a research report on Monday, October 2nd. They set a “buy” rating and a $26.00 price target for the company. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $26.33.

Shares of MCBC (MCFT) traded up $0.52 during trading hours on Tuesday, hitting $21.56. The stock had a trading volume of 214,708 shares, compared to its average volume of 216,038. The stock has a market capitalization of $403.83 and a P/E ratio of 20.53. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.51 and a current ratio of 0.78. MCBC has a twelve month low of $13.67 and a twelve month high of $23.99.

MCBC (NASDAQ:MCFT) last announced its quarterly earnings data on Friday, November 10th. The company reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40. The business had revenue of $65.00 million during the quarter, compared to the consensus estimate of $62.84 million. MCBC had a return on equity of 183.58% and a net margin of 10.83%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share. research analysts forecast that MCBC will post 1.57 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of MCFT. Schwab Charles Investment Management Inc. grew its position in MCBC by 96.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 29,900 shares of the company’s stock valued at $585,000 after acquiring an additional 14,700 shares during the period. Rhumbline Advisers acquired a new position in shares of MCBC during the second quarter worth about $371,000. Bank of New York Mellon Corp lifted its stake in shares of MCBC by 37.9% during the second quarter. Bank of New York Mellon Corp now owns 113,241 shares of the company’s stock worth $2,214,000 after purchasing an additional 31,113 shares in the last quarter. AJO LP lifted its stake in shares of MCBC by 253.5% during the second quarter. AJO LP now owns 391,357 shares of the company’s stock worth $7,651,000 after purchasing an additional 280,653 shares in the last quarter. Finally, Teachers Advisors LLC lifted its stake in shares of MCBC by 5.5% during the second quarter. Teachers Advisors LLC now owns 102,399 shares of the company’s stock worth $2,002,000 after purchasing an additional 5,336 shares in the last quarter. 93.95% of the stock is 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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