MCBC (MCFT) Downgraded to Sell at BidaskClub

MCBC (NASDAQ:MCFT) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday.

MCFT has been the subject of several other research reports. ValuEngine raised shares of MCBC from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Zacks Investment Research raised shares of MCBC from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Wednesday, September 19th. Robert W. Baird boosted their price target on shares of MCBC from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, September 11th. B. Riley boosted their price target on shares of MCBC from $28.00 to $36.50 and gave the stock a “buy” rating in a report on Friday, September 7th. Finally, SunTrust Banks boosted their price target on shares of MCBC to $30.00 in a report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $40.33.

MCFT opened at $22.62 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.77 and a debt-to-equity ratio of 1.17. MCBC has a 1 year low of $20.44 and a 1 year high of $39.50. The firm has a market capitalization of $458.30 million, a P/E ratio of 11.14, a PEG ratio of 0.61 and a beta of 1.26.

MCBC (NASDAQ:MCFT) last posted its earnings results on Friday, November 9th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $93.60 million during the quarter, compared to analysts’ expectations of $90.93 million. MCBC had a net margin of 11.37% and a return on equity of 90.10%. The business’s revenue was up 44.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. As a group, equities research analysts forecast that MCBC will post 2.69 earnings per share for the current fiscal year.

In related news, insider Terry D. Mcnew purchased 3,545 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The stock was bought at an average price of $28.14 per share, with a total value of $99,756.30. Following the acquisition, the insider now owns 320,062 shares in the company, valued at $9,006,544.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.79% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC purchased a new stake in shares of MCBC during the second quarter worth $201,000. Capital Fund Management S.A. purchased a new stake in shares of MCBC during the second quarter worth $208,000. Jefferies Group LLC purchased a new stake in shares of MCBC during the third quarter worth $224,000. Mackay Shields LLC purchased a new stake in shares of MCBC during the second quarter worth $226,000. Finally, Virtu Financial LLC purchased a new stake in shares of MCBC during the third quarter worth $252,000. 91.75% of the stock is owned by institutional investors.

About MCBC

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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Analyst Recommendations for MCBC (NASDAQ:MCFT)

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