MasterCraft Boat (NASDAQ:MCFT) Rating Lowered to Sell at StockNews.com

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

MCFT has been the topic of several other reports. Stifel Nicolaus restated a buy rating and set a $22.00 target price on shares of MasterCraft Boat in a research report on Friday, August 30th. B. Riley reduced their price objective on shares of MasterCraft Boat from $22.00 to $19.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Finally, Truist Financial reissued a hold rating and issued a $15.00 price objective on shares of MasterCraft Boat in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, MasterCraft Boat presently has an average rating of Hold and a consensus target price of $19.75.

MasterCraft Boat Price Performance

Shares of NASDAQ MCFT opened at $17.62 on Monday. MasterCraft Boat has a twelve month low of $17.31 and a twelve month high of $24.05. The firm has a market cap of $299.21 million, a P/E ratio of 7.94 and a beta of 1.63. The company has a 50 day moving average of $19.39 and a 200 day moving average of $20.56. 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 announced its quarterly earnings results on Thursday, August 29th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.18. The business had revenue of $67.20 million for the quarter, compared to analysts’ expectations of $63.10 million. MasterCraft Boat had a net margin of 2.13% and a return on equity of 9.31%. The business’s quarterly revenue was down 59.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.33 EPS. As a group, research analysts expect that MasterCraft Boat will post 1.23 EPS for the current fiscal year.

Insider Transactions at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L acquired 63,600 shares of the stock in a transaction dated Thursday, June 13th. The stock was acquired at an average cost of $20.27 per share, for a total transaction of $1,289,172.00. Following the completion of the purchase, the insider now owns 3,137,573 shares of the company’s stock, valued at approximately $63,598,604.71. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders purchased 198,056 shares of company stock worth $3,944,984. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Systematic Financial Management LP raised its position in shares of MasterCraft Boat by 2.8% in the second quarter. Systematic Financial Management LP now owns 963,173 shares of the company’s stock worth $18,185,000 after acquiring an additional 26,077 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MasterCraft Boat by 13.1% during the second quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock worth $13,484,000 after purchasing an additional 82,509 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of MasterCraft Boat by 11.2% during the fourth quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock worth $13,360,000 after purchasing an additional 59,200 shares in the last quarter. American Century Companies Inc. increased its stake in shares of MasterCraft Boat by 14.8% during the second quarter. American Century Companies Inc. now owns 395,570 shares of the company’s stock worth $7,468,000 after purchasing an additional 51,016 shares in the last quarter. Finally, Wasatch Advisors LP increased its stake in shares of MasterCraft Boat by 34.2% during the first quarter. Wasatch Advisors LP now owns 381,471 shares of the company’s stock worth $9,048,000 after purchasing an additional 97,170 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.