Mastercraft Boat (NASDAQ:MCFT) Shares Gap Down After Analyst Downgrade

Mastercraft Boat Holdings Inc (NASDAQ:MCFT) shares gapped down prior to trading on Friday after SunTrust Banks lowered their price target on the stock from $18.00 to $15.00. The stock had previously closed at $13.13, but opened at $13.99. SunTrust Banks currently has a hold rating on the stock. Mastercraft Boat shares last traded at $14.98, with a volume of 19,305 shares trading hands.

Other equities analysts have also recently issued reports about the stock. TheStreet cut shares of Mastercraft Boat from a “b-” rating to a “c+” rating in a research note on Thursday, August 15th. ValuEngine cut shares of Mastercraft Boat from a “sell” rating to a “strong sell” rating in a research note on Friday, May 24th. BidaskClub raised shares of Mastercraft Boat from a “strong sell” rating to a “sell” rating in a report on Tuesday. Raymond James lowered shares of Mastercraft Boat from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 22nd. Finally, B. Riley cut their price target on shares of Mastercraft Boat from $43.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $29.20.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mesirow Financial Investment Management Inc. increased its holdings in Mastercraft Boat by 68.6% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 22,047 shares of the company’s stock worth $442,000 after acquiring an additional 8,970 shares in the last quarter. Bowling Portfolio Management LLC grew its holdings in shares of Mastercraft Boat by 31.0% during the second quarter. Bowling Portfolio Management LLC now owns 61,091 shares of the company’s stock worth $1,197,000 after buying an additional 14,446 shares in the last quarter. Isthmus Partners LLC purchased a new stake in shares of Mastercraft Boat during the second quarter worth $636,000. Clark Estates Inc. NY purchased a new stake in shares of Mastercraft Boat during the first quarter worth $3,340,000. Finally, Virginia Retirement Systems ET AL grew its holdings in shares of Mastercraft Boat by 23.2% during the second quarter. Virginia Retirement Systems ET AL now owns 70,200 shares of the company’s stock worth $1,375,000 after buying an additional 13,200 shares in the last quarter. 94.77% of the stock is owned by institutional investors.

The firm has a market cap of $329.36 million, a PE ratio of 7.38, a price-to-earnings-growth ratio of 0.61 and a beta of 1.67. The stock’s fifty day moving average price is $15.26 and its 200-day moving average price is $20.62. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.79 and a quick ratio of 0.38.

Mastercraft Boat (NASDAQ:MCFT) last released its earnings results on Thursday, September 12th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.06. Mastercraft Boat had a net margin of 10.15% and a return on equity of 73.69%. The business had revenue of $122.81 million during the quarter, compared to analyst estimates of $126.21 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Mastercraft Boat Holdings Inc will post 2.71 earnings per share for the current fiscal year.

Mastercraft Boat Company Profile (NASDAQ:MCFT)

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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