In a report released today, Eric Wold from B.Riley FBR upgraded Marcus Corp (MCS) to Buy, with a price target of $46. The company’s shares closed yesterday at $37.02.
Wold observed:
“Before the open on Corporation (MCS) reported better-than- expected 1Q19 results even in the face of headwinds impacting both the theaters and hotels/ resorts segments. Although 1Q19 results were adversely impacted by the combination of weak box office trends (with results slightly worse than our original projection), the closure/ renovation of the the initial integration of the Movie Tavern acquisition, we remain positive on the full-year outlook with an expectation for a new domestic box office record, the benefits of the re-branded hotel in Milwaukee, the flow-through of the Movie Tavern circuit during stronger box office quarters—and now the potential for less of a competitive impact in the Milwaukee hotel market than we originally feared.”
According to TipRanks.com, Wold is ranked 0 out of 5 stars with an average return of -4.9% and a 38.7% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Currently, the analyst consensus on Marcus Corp is a Strong Buy with an average price target of $46.67, representing a 26.1% upside. In a report released yesterday, Barrington also maintained a Buy rating on the stock with a $49 price target.
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The company has a one-year high of $45.82 and a one-year low of $29.45. Currently, Marcus Corp has an average volume of 233.3K.
Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is neutral on the stock. Last month, Timothy Hoeksema, a Director at MCS bought 500 shares for a total of $5,390.
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Marcus Corp. engages in operating movie theatres, hotels, and resorts. It operates through the following business segments: Theatres, Hotels & Resorts, and Corporate Items. The Theatres segment includes multiscreen motion picture theatres and a family entertainment center. The Hotels & Resorts segment owns and operates full service hotels and resorts.
