MasterCraft Boat (NASDAQ:MCFT) Downgraded by StockNews.com

StockNews.com cut shares of MasterCraft Boat (NASDAQ:MCFT) from a hold rating to a sell rating in a research note published on Monday.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus reissued a buy rating and set a $22.00 price objective on shares of MasterCraft Boat in a report on Friday, August 30th. Truist Financial reissued a hold rating and set a $15.00 price target on shares of MasterCraft Boat in a research note on Friday, August 30th. Finally, B. Riley dropped their price objective on MasterCraft Boat from $22.00 to $19.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, MasterCraft Boat presently has an average rating of Hold and a consensus target price of $19.75.

MasterCraft Boat Trading Up 0.7 %

Shares of MasterCraft Boat stock opened at $17.66 on Monday. The firm has a market cap of $299.88 million, a price-to-earnings ratio of 7.95 and a beta of 1.63. MasterCraft Boat has a 52-week low of $17.31 and a 52-week high of $24.05. The company’s 50-day simple moving average is $19.41 and its 200-day simple moving average is $20.58. The company has a quick ratio of 1.54, a current ratio of 2.02 and a debt-to-equity ratio of 0.23.

MasterCraft Boat (NASDAQ:MCFT) last released its earnings results on Thursday, August 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.18. MasterCraft Boat had a return on equity of 9.31% and a net margin of 2.13%. The company had revenue of $67.20 million for the quarter, compared to analysts’ expectations of $63.10 million. During the same quarter in the previous year, the firm posted $1.33 EPS. The firm’s quarterly revenue was down 59.7% on a year-over-year basis. As a group, equities research analysts anticipate that MasterCraft Boat will post 1.23 earnings per share for the current year.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L acquired 63,600 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $20.27 per share, for a total transaction of $1,289,172.00. Following the transaction, the insider now directly owns 3,137,573 shares of the company’s stock, valued at approximately $63,598,604.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired 198,056 shares of company stock worth $3,944,984 over the last ninety days. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of MasterCraft Boat during the first quarter worth about $43,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MasterCraft Boat by 41.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,486 shares of the company’s stock valued at $102,000 after acquiring an additional 1,306 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of MasterCraft Boat during the 2nd quarter worth $190,000. CastleKnight Management LP acquired a new stake in shares of MasterCraft Boat during the fourth quarter worth $263,000. Finally, Janus Henderson Group PLC grew its position in shares of MasterCraft Boat by 40.5% in the first quarter. Janus Henderson Group PLC now owns 13,047 shares of the company’s stock valued at $310,000 after purchasing an additional 3,762 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

About MasterCraft Boat

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.