Mastercraft Boat (NASDAQ:MCFT) Rating Lowered to Sell at Zacks Investment Research

Mastercraft Boat (NASDAQ:MCFT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “MasterCraft Boat Holdings Inc. designs, manufactures and markets recreational powerboats through its subsidiaries. The company’s operating segment consists of MasterCraft and NauticStar. It offers boats and boat trailers; replacement and aftermarket boat parts and accessories as well as manufactures pontoon boats. MasterCraft Boat Holdings Inc., formerly known as MCBC Holdings Inc., is headquartered in Vonore, Tennessee. “

MCFT has been the topic of several other research reports. BidaskClub downgraded Zebra Technologies from a “hold” rating to a “sell” rating in a report on Friday, May 24th. ValuEngine upgraded XOMA from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Mastercraft Boat has an average rating of “Hold” and a consensus target price of $35.00.

Shares of MCFT stock opened at $18.69 on Friday. Mastercraft Boat has a 12 month low of $17.60 and a 12 month high of $39.50. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.38 and a current ratio of 0.79. The company’s 50 day moving average is $20.46. The firm has a market capitalization of $349.95 million, a P/E ratio of 9.21, a PEG ratio of 0.61 and a beta of 1.66.

Mastercraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.65 by $0.13. Mastercraft Boat had a return on equity of 73.69% and a net margin of 10.15%. The company had revenue of $128.40 million for the quarter, compared to the consensus estimate of $122.72 million. During the same quarter last year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, sell-side analysts expect that Mastercraft Boat will post 2.72 earnings per share for the current fiscal year.

In other news, Director Frederick A. Brightbill sold 5,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $20.84, for a total value of $104,200.00. Following the sale, the director now owns 29,323 shares in the company, valued at $611,091.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Patrick May acquired 4,185 shares of the stock in a transaction dated Friday, May 17th. The stock was bought at an average price of $24.06 per share, for a total transaction of $100,691.10. Following the purchase, the insider now owns 5,744 shares of the company’s stock, valued at approximately $138,200.64. The disclosure for this purchase can be found here. Company insiders own 2.79% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Royce & Associates LP grew its stake in shares of Mastercraft Boat by 8.0% in the first quarter. Royce & Associates LP now owns 648,708 shares of the company’s stock worth $14,641,000 after acquiring an additional 47,893 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Mastercraft Boat by 15.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 569,062 shares of the company’s stock worth $10,642,000 after acquiring an additional 76,305 shares during the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Mastercraft Boat by 628.9% in the first quarter. Rice Hall James & Associates LLC now owns 564,808 shares of the company’s stock worth $12,748,000 after acquiring an additional 487,325 shares during the last quarter. Systematic Financial Management LP acquired a new stake in shares of Mastercraft Boat in the first quarter worth $11,347,000. Finally, Punch & Associates Investment Management Inc. grew its stake in shares of Mastercraft Boat by 11.3% in the first quarter. Punch & Associates Investment Management Inc. now owns 324,725 shares of the company’s stock worth $7,329,000 after acquiring an additional 33,000 shares during the last quarter. Institutional investors and hedge funds own 95.62% 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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