MasterCraft Boat (NASDAQ:MCFT) Stock Rating Lowered by StockNews.com

MasterCraft Boat (NASDAQ:MCFT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Other analysts have also recently issued research reports about the stock. Truist Financial cut their target price on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, January 7th. B. Riley increased their target price on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, DA Davidson boosted their target price on shares of MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MasterCraft Boat has a consensus rating of “Hold” and a consensus target price of $20.75.

MasterCraft Boat Trading Down 4.1 %

NASDAQ:MCFT opened at $18.30 on Monday. The business’s 50-day moving average price is $19.40 and its two-hundred day moving average price is $19.05. The firm has a market capitalization of $307.44 million, a price-to-earnings ratio of -79.57 and a beta of 1.67. MasterCraft Boat has a 1-year low of $16.12 and a 1-year high of $24.05. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.28.

MasterCraft Boat (NASDAQ:MCFT) last posted its earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. MasterCraft Boat had a positive return on equity of 6.55% and a negative net margin of 1.08%. The business had revenue of $65.40 million during the quarter, compared to analysts’ expectations of $61.19 million. During the same period in the prior year, the business earned $0.43 EPS. MasterCraft Boat’s revenue for the quarter was down 37.2% compared to the same quarter last year. On average, equities analysts expect that MasterCraft Boat will post 0.61 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L acquired 55,000 shares of the stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the transaction, the insider now owns 3,562,615 shares in the company, valued at $67,084,040.45. This represents a 1.57 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 4.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MasterCraft Boat

Several institutional investors have recently modified their holdings of MCFT. US Bancorp DE grew its stake in shares of MasterCraft Boat by 64.0% during the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after buying an additional 2,000 shares during the last quarter. SG Americas Securities LLC bought a new stake in MasterCraft Boat in the third quarter worth $126,000. Quest Partners LLC purchased a new position in MasterCraft Boat in the third quarter worth about $150,000. Squarepoint Ops LLC purchased a new stake in MasterCraft Boat during the 2nd quarter valued at $190,000. Finally, Metis Global Partners LLC bought a new position in MasterCraft Boat during the 3rd quarter valued at about $190,000. 97.64% of the stock is currently owned by institutional investors.

MasterCraft Boat Company Profile

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through MasterCraft, Crest, and Aviara segments. The MasterCraft segment produces premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating.