ValuEngine Lowers Mastercraft Boat (MCFT) to Sell

Mastercraft Boat (NASDAQ:MCFT) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

A number of other analysts have also weighed in on the company. BidaskClub upgraded Mastercraft Boat from a “strong sell” rating to a “sell” rating in a research note on Saturday, January 19th. Zacks Investment Research upgraded Mastercraft Boat from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $35.83.

MCFT stock traded down $0.92 during midday trading on Wednesday, reaching $24.42. The company’s stock had a trading volume of 146,744 shares, compared to its average volume of 207,187. The company has a quick ratio of 0.38, a current ratio of 0.79 and a debt-to-equity ratio of 1.42. Mastercraft Boat has a 1 year low of $17.60 and a 1 year high of $39.50. The firm has a market cap of $465.49 million, a price-to-earnings ratio of 12.03, a PEG ratio of 0.62 and a beta of 1.68.

Mastercraft Boat (NASDAQ:MCFT) last released its earnings results on Thursday, May 9th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.13. Mastercraft Boat had a return on equity of 73.69% and a net margin of 10.15%. The business had revenue of $128.40 million for the quarter, compared to analyst estimates of $122.72 million. During the same quarter last year, the firm posted $0.56 earnings per share. The business’s revenue was up 36.9% compared to the same quarter last year. Research analysts expect that Mastercraft Boat will post 2.68 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of MCFT. Systematic Financial Management LP bought a new position in shares of Mastercraft Boat during the 1st quarter worth $11,347,000. Rice Hall James & Associates LLC grew its position in shares of Mastercraft Boat by 628.9% during the 1st quarter. Rice Hall James & Associates LLC now owns 564,808 shares of the company’s stock worth $12,748,000 after buying an additional 487,325 shares in the last quarter. Wasatch Advisors Inc. bought a new position in shares of Mastercraft Boat during the 1st quarter worth $6,783,000. Divisar Capital Management LLC grew its position in shares of Mastercraft Boat by 48.3% during the 4th quarter. Divisar Capital Management LLC now owns 825,600 shares of the company’s stock worth $15,439,000 after buying an additional 268,719 shares in the last quarter. Finally, Shellback Capital LP grew its position in shares of Mastercraft Boat by 465.0% during the 4th quarter. Shellback Capital LP now owns 294,077 shares of the company’s stock worth $5,499,000 after buying an additional 242,029 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. The company operates in two segments, MasterCraft and NauticStar. It offers sport boats and outboard boats, which are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating.

Further Reading: Technical Analysis

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Analyst Recommendations for Mastercraft Boat (NASDAQ:MCFT)

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