MasterCraft Boat (NASDAQ:MCFT) Downgraded 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 a number of other reports. Truist Financial reiterated a hold rating and set a $15.00 target price on shares of MasterCraft Boat in a research report on Friday. B. Riley cut their price objective on shares of MasterCraft Boat from $22.00 to $19.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Finally, Stifel Nicolaus restated a buy rating and set a $22.00 price objective on shares of MasterCraft Boat in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $19.75.

MasterCraft Boat Stock Performance

NASDAQ MCFT opened at $18.53 on Monday. The firm has a market capitalization of $314.66 million, a P/E ratio of 8.35 and a beta of 1.63. MasterCraft Boat has a fifty-two week low of $17.31 and a fifty-two week high of $24.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.54 and a current ratio of 2.02. The stock’s fifty day moving average is $19.47 and its two-hundred day moving average is $20.63.

MasterCraft Boat (NASDAQ:MCFT) last released its earnings results on Thursday, August 29th. The company reported ($0.04) earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $63.10 million. During the same period in the previous year, the company posted $1.33 EPS. MasterCraft Boat’s revenue was down 59.7% compared to the same quarter last year. On average, research analysts anticipate that MasterCraft Boat will post 1.23 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L bought 38,462 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was bought at an average price of $19.58 per share, for a total transaction of $753,085.96. Following the completion of the purchase, the insider now owns 3,372,670 shares of the company’s stock, valued at approximately $66,036,878.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 296,502 shares of company stock valued at $5,948,360 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of MasterCraft Boat

Several institutional investors and hedge funds have recently made changes to their positions in MCFT. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of MasterCraft Boat during the first quarter worth $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MasterCraft Boat by 41.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,486 shares of the company’s stock worth $102,000 after purchasing an additional 1,306 shares in the last quarter. Squarepoint Ops LLC acquired a new position in MasterCraft Boat in the 2nd quarter valued at $190,000. CastleKnight Management LP acquired a new position in shares of MasterCraft Boat in the 4th quarter valued at approximately $263,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of MasterCraft Boat by 40.5% in the 1st 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 in the last quarter. Institutional investors 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.