MasterCraft Boat (NASDAQ:MCFT) Downgraded to “Sell” Rating by StockNews.com

MasterCraft Boat (NASDAQ:MCFT) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

A number of other equities analysts have also commented on the stock. Truist Financial reduced their price target on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. DA Davidson raised their target price on MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, B. Riley raised their price objective on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.75.

MasterCraft Boat Price Performance

Shares of MCFT stock traded up $0.50 during trading hours on Monday, hitting $19.09. The company had a trading volume of 74,539 shares, compared to its average volume of 63,646. MasterCraft Boat has a 12 month low of $16.12 and a 12 month high of $24.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.49 and a current ratio of 2.01. The firm’s fifty day moving average is $19.45 and its 200 day moving average is $19.06. The firm has a market capitalization of $320.71 million, a price-to-earnings ratio of -83.00 and a beta of 1.67.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.09. MasterCraft Boat had a positive return on equity of 6.55% and a negative net margin of 1.08%. The firm had revenue of $65.40 million during the quarter, compared to analyst estimates of $61.19 million. During the same period in the prior year, the company posted $0.43 earnings per share. The business’s revenue for the quarter was down 37.2% compared to the same quarter last year. On average, sell-side analysts predict that MasterCraft Boat will post 0.61 EPS for the current fiscal year.

Insider Transactions at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L acquired 55,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $18.83 per share, for a total transaction of $1,035,650.00. Following the completion of the acquisition, the insider now directly owns 3,562,615 shares of the company’s stock, valued at approximately $67,084,040.45. This represents a 1.57 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MCFT. Forager Capital Management LLC lifted its stake in MasterCraft Boat by 29.9% in the third quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock valued at $30,915,000 after buying an additional 390,405 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MasterCraft Boat by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock valued at $13,484,000 after acquiring an additional 82,509 shares during the last quarter. Systematic Financial Management LP raised its position in shares of MasterCraft Boat by 6.8% in the 3rd quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after acquiring an additional 65,412 shares during the period. Ballentine Partners LLC bought a new position in MasterCraft Boat during the 3rd quarter worth approximately $192,000. Finally, Principal Financial Group Inc. acquired a new position in MasterCraft Boat during the third quarter valued at approximately $191,000. 97.64% of the stock is currently owned by institutional investors.

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.