ClubCorp Holdings Inc (MYCC) Stock Rating Upgraded by Imperial Capital
Imperial Capital upgraded shares of ClubCorp Holdings Inc (NYSE:MYCC) from an in-line rating to an outperform rating in a research note issued to investors on Friday. The firm currently has $21.00 price objective on the stock, up from their prior price objective of $14.00.
“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,,” the firm’s analyst wrote.
Other research analysts also recently issued reports about the company. Deutsche Bank AG restated a buy rating on shares of ClubCorp Holdings in a research note on Sunday, July 17th. Bank of America Corp. restated a buy rating on shares of ClubCorp Holdings in a research note on Sunday, July 17th. Macquarie upgraded ClubCorp Holdings from a neutral rating to an outperform rating in a research note on Tuesday, July 12th. MKM Partners restated a buy rating and issued a $24.00 price target on shares of ClubCorp Holdings in a research note on Monday, July 11th. Finally, Stifel Nicolaus restated a buy rating on shares of ClubCorp Holdings in a research note on Friday, September 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $19.89.
ClubCorp Holdings (NYSE:MYCC) opened at 16.55 on Friday. The company has a 50 day moving average price of $14.78 and a 200-day moving average price of $13.65. The firm’s market capitalization is $1.09 billion. ClubCorp Holdings has a 52 week low of $9.75 and a 52 week high of $23.04.
ClubCorp Holdings (NYSE:MYCC) last posted its quarterly earnings results on Thursday, July 14th. The company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.04. The company earned $269 million during the quarter. ClubCorp Holdings had a negative net margin of 0.74% and a negative return on equity of 1.25%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts predict that ClubCorp Holdings will post $0.22 earnings per share for the current year.
In other news, EVP Andrew V. Miller sold 2,000 shares of the business’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $14.94, for a total transaction of $29,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted its position in 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 period. Teacher Retirement System of Texas boosted its position in 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 period. Envestnet Asset Management Inc. boosted its position in 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 period. Principal Financial Group Inc. acquired a new position in ClubCorp Holdings during the second quarter worth approximately $150,000. Finally, First New York Securities LLC NY acquired a new position in ClubCorp Holdings during the second quarter worth approximately $155,000. 97.27% of the stock is owned by institutional investors.
About ClubCorp Holdings
ClubCorp Holdings, Inc is a membership-based leisure company. The Company is the owner-operator of private golf and country clubs, and business, sports and alumni clubs in North America. The Company’s segments include Golf and Country Clubs; Business, Sports and Alumni Clubs, and Other. The Company’s Golf and country club operations consist of private country clubs, golf clubs and public golf facilities.
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