Mastercraft Boat (NASDAQ:MCFT) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Mastercraft Boat (NASDAQ:MCFT) from a sell rating to a hold rating in a research note issued to investors on Wednesday, BidAskClub reports.

A number of other research analysts have also recently commented on MCFT. Raymond James cut Mastercraft Boat from a strong-buy rating to a market perform rating in a research note on Monday, July 22nd. Zacks Investment Research cut Mastercraft Boat from a hold rating to a sell rating in a research note on Saturday, July 20th. SunTrust Banks lowered their target price on Mastercraft Boat from $18.00 to $15.00 and set a hold rating for the company in a research note on Friday, September 13th. TheStreet cut Mastercraft Boat from a b- rating to a c+ rating in a research note on Thursday, August 15th. Finally, ValuEngine cut Mastercraft Boat from a sell rating to a strong sell rating in a research note on Friday, May 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $23.50.

MCFT opened at $14.54 on Wednesday. The stock has a market cap of $274.60 million, a PE ratio of 5.32, a PEG ratio of 0.56 and a beta of 1.67. The company has a quick ratio of 0.38, a current ratio of 0.79 and a debt-to-equity ratio of 1.45. The business has a 50 day moving average of $14.94 and a 200-day moving average of $20.23. Mastercraft Boat has a 52 week low of $13.33 and a 52 week high of $38.49.

Mastercraft Boat (NASDAQ:MCFT) last released its earnings results on Thursday, September 12th. The company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.06. The company had revenue of $122.81 million during the quarter, compared to analysts’ expectations of $126.21 million. Mastercraft Boat had a return on equity of 73.50% and a net margin of 4.58%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. Equities analysts anticipate that Mastercraft Boat will post 2.55 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Swiss National Bank raised its stake in Mastercraft Boat by 2.1% during the second quarter. Swiss National Bank now owns 34,800 shares of the company’s stock valued at $682,000 after buying an additional 700 shares during the last quarter. Northern Trust Corp raised its stake in Mastercraft Boat by 0.3% during the second quarter. Northern Trust Corp now owns 220,625 shares of the company’s stock valued at $4,322,000 after buying an additional 737 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Mastercraft Boat by 106.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,017 shares of the company’s stock valued at $46,000 after buying an additional 1,041 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Mastercraft Boat during the second quarter valued at $25,000. Finally, New York State Teachers Retirement System purchased a new position in Mastercraft Boat during the first quarter valued at $36,000. Institutional investors and hedge funds own 94.77% of the company’s stock.

Mastercraft Boat Company Profile

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.

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