ClubCorp Holdings Inc. (MYCC) Rating Increased to Outperform at Imperial Capital
ClubCorp Holdings Inc. (NYSE:MYCC) was upgraded by stock analysts at Imperial Capital from an “in-line” rating to an “outperform” rating in a report issued on Friday. The firm presently has a $21.00 price target on the stock, up from their prior price target of $14.00. Imperial Capital’s target price would suggest a potential upside of 31.33% from the company’s previous close.
The analysts wrote, “We see potential for the letter to compel management and the board to re-focus ClubCorp’s strategy and more fully unlock the value of its assets, which include 30K owned acres and several trophy properties. Additionally, MYCC generates approximately $150 million in annual operating free cash, allowing for more aggressive share buybacks or debt pay-down,” analyst George Kelly wrote in a note.Related Link: What Clubs Will Tiger Woods Use For His Comeback?Kelly also sees potential for ClubCorp to be the target of an acquirer at levels above the current trading given its strong operating cash flow and is nearing the end of a heavy acquisition and investment cycle.”We believe the spending cycle will fall in 2018 and approach more normal levels, returning to a MSD percent range of revenue. Private equity firms have historically been very active in the golf, leisure, and fitness spaces,”
A number of other brokerages have also commented on MYCC. Wells Fargo & Co. reissued a “buy” rating on shares of ClubCorp Holdings in a research report on Tuesday, July 19th. Zacks Investment Research downgraded shares of ClubCorp Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Stifel Nicolaus restated a “buy” rating on shares of ClubCorp Holdings in a report on Friday, September 9th. Citigroup Inc. lowered their target price on shares of ClubCorp Holdings from $17.50 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, September 13th. Finally, TheStreet upgraded shares of ClubCorp Holdings from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.89.
ClubCorp Holdings (NYSE:MYCC) opened at 15.99 on Friday. The company’s market capitalization is $1.05 billion. The stock’s 50 day moving average is $14.65 and its 200-day moving average is $13.61. ClubCorp Holdings has a 12-month low of $9.75 and a 12-month high of $23.04.
ClubCorp Holdings (NYSE:MYCC) last announced its quarterly earnings data on Thursday, July 14th. The company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.04. The business earned $269 million during the quarter. ClubCorp Holdings had a negative return on equity of 1.25% and a negative net margin of 0.74%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts predict that ClubCorp Holdings will post $0.22 earnings per share for the current fiscal year.
In other news, EVP Andrew V. Miller sold 2,000 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $14.94, for a total value of $29,880.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. US Bancorp DE boosted its stake in shares of ClubCorp Holdings by 15.8% in the second quarter. US Bancorp DE now owns 7,972 shares of the company’s stock worth $104,000 after buying an additional 1,089 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of ClubCorp Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,033 shares of the company’s stock worth $117,000 after buying an additional 1,096 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of ClubCorp Holdings by 461.2% in the first quarter. Envestnet Asset Management Inc. now owns 10,085 shares of the company’s stock worth $142,000 after buying an additional 8,288 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of ClubCorp Holdings during the second quarter worth about $150,000. Finally, First New York Securities LLC NY acquired a new stake in shares of ClubCorp Holdings during the second quarter worth about $155,000. 98.06% of the stock is owned by institutional investors.
ClubCorp Holdings Company Profile
ClubCorp Holdings, Inc is engaged in membership-based leisure business and an owner and operator of private golf and country clubs and business, sports and alumni clubs in North America. The Company operations are organized into two business segments: golf and country clubs, and business, sports and alumni clubs.
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