B.Riley FBR Reiterates a Buy Rating on MCBC Holdings

B.Riley FBR analyst Eric Wold reiterated a Buy rating on MCBC Holdings (NASDAQ: MCFT) today and set a price target of $33.50. The company’s shares closed yesterday at $25.98.

Wold wrote:

“After the close on Thursday, 5/10, MCBC Holdings (MCFT) reported 3Q18 results that came in above our/consensus expectations with management increasing FY18 guidance once again. With stronger-than-expected unit shipments and ASPs for both the MasterCraft and NauticStar brands, a healthy competitive/promotional environment as well as confirmation from management that the weak SSI industry data reported for March was solely driven by poor weather (with a 125% Y/Y increase in MCFT boats sold but not delivered), we continue to see an attractive set-up for MCFT into the heart of the boat selling season and as the company continues to benefit from additional gains in production levels and dealer numbers around the NauticStar brand. We are increasing our estimates, reiterating our Buy rating and raising our PT from $29.25 to $33.50.”

According to TipRanks.com, Wold is a 4-star analyst with an average return of 7.3% and a 55.5% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.

MCBC Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $29.13.

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MCBC Holdings’ market cap is currently $485.3M and has a P/E ratio of 20.46. The company has a Price to Book ratio of 17.78.

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MCBC Holdings, Inc. engages in the design, manufacture, and sale of boats. It operates through MasterCraft and Hydra-Sports segments. The MasterCraft segment offers recreational performance boats used for water skiing, wakeboarding, and wake surfing activities. The Hydra-Sports segment offers recreational fishing boats.