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Analysts Rate MCBC Holdings, MasterCraft Boats

MCBC Holdings Inc. (NASDAQ: MCFT) has not been very exciting since its mid-July initial public offering (IPO). Its quiet period has now ended so that analysts from the underwriting firms can issue their analyst coverage.

Most people will not know this company by its formal name, but MCBC Holdings makes recreational sport boats under the MasterCraft brand.

MCBC Holdings sold 6,071,429 shares of common stock at $15.00 per share, and the company’s IPO closure statement said that its underwriters have also delivered notice that they intended to exercise their option to purchase up to an additional 910,714 shares of common stock from certain selling stockholders.

R.W. Baird and Raymond James were the joint lead book-running managers for the offering. Wells Fargo was a book-running manager, and KeyBanc Capital Markets and Wunderlich acted as co-managers in this deal. Here is how each firm initiated coverage of MCBC Holdings:

  • KeyBanc Capital Markets started it as Overweight with a price target of $20.
  • Raymond James started it as a Strong Buy with an $18 price target.
  • R.W. Baird started it at Outperform with a $19 price target.
  • Wells Fargo started it at Outperform.
  • Wunderlich started it as Buy with a $20 price target.

After pricing at $15.00, its post-IPO range has been $14.14 to $16.14. Unfortunately, the quiet period failed to generate much buzz on Tuesday, with its shares down 1.8% at $14.97 in midday trading.

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By Jon C. Ogg