Mastercraft Boat (NASDAQ:MCFT) Downgraded to “Sell” at BidaskClub

BidaskClub lowered shares of Mastercraft Boat (NASDAQ:MCFT) from a hold rating to a sell rating in a report published on Saturday morning, BidAskClub reports.

MCFT has been the subject of several other reports. B. Riley decreased their price target on Mastercraft Boat from $37.00 to $29.00 and set a buy rating for the company in a report on Friday, September 13th. SunTrust Banks decreased their price target on Mastercraft Boat from $18.00 to $15.00 and set a hold rating for the company in a report on Friday, September 13th. Zacks Investment Research downgraded Mastercraft Boat from a buy rating to a hold rating in a report on Thursday, January 9th. Finally, ValuEngine raised Mastercraft Boat from a sell rating to a hold rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Mastercraft Boat presently has a consensus rating of Hold and a consensus target price of $21.00.

Shares of NASDAQ MCFT opened at $15.11 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.84 and a quick ratio of 0.32. The stock has a fifty day moving average price of $15.66 and a 200 day moving average price of $16.06. Mastercraft Boat has a 1-year low of $13.33 and a 1-year high of $26.74. The company has a market cap of $283.88 million, a PE ratio of 5.49, a P/E/G ratio of 0.60 and a beta of 1.64.

Mastercraft Boat (NASDAQ:MCFT) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.11. Mastercraft Boat had a return on equity of 67.69% and a net margin of 4.46%. The firm had revenue of $109.80 million during the quarter, compared to the consensus estimate of $101.81 million. During the same period last year, the company earned $0.54 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. Analysts anticipate that Mastercraft Boat will post 2.49 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC lifted its holdings in Mastercraft Boat by 1.5% in the third quarter. Squarepoint Ops LLC now owns 108,386 shares of the company’s stock valued at $1,618,000 after acquiring an additional 1,626 shares during the period. Zebra Capital Management LLC lifted its holdings in Mastercraft Boat by 25.3% in the third quarter. Zebra Capital Management LLC now owns 14,050 shares of the company’s stock valued at $209,000 after acquiring an additional 2,839 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Mastercraft Boat by 11.4% in the third quarter. Public Employees Retirement System of Ohio now owns 18,815 shares of the company’s stock valued at $281,000 after acquiring an additional 1,928 shares during the period. Systematic Financial Management LP lifted its holdings in Mastercraft Boat by 39.9% in the third quarter. Systematic Financial Management LP now owns 803,243 shares of the company’s stock valued at $11,988,000 after acquiring an additional 229,098 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Mastercraft Boat by 25.3% in the third quarter. First Trust Advisors LP now owns 42,476 shares of the company’s stock valued at $634,000 after acquiring an additional 8,572 shares during the period. 88.26% of the stock is owned by institutional investors.

About Mastercraft Boat

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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