MasterCraft Boat (NASDAQ:MCFT) Cut to “Sell” at StockNews.com

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

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

MasterCraft Boat Stock Up 0.1 %

NASDAQ MCFT opened at $18.31 on Monday. MasterCraft Boat has a twelve month low of $16.12 and a twelve month high of $24.05. The stock has a market cap of $307.61 million, a PE ratio of -79.61 and a beta of 1.67. The firm has a 50-day simple moving average of $19.36 and a 200 day simple moving average of $19.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.49 and a current ratio of 2.01.

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

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L acquired 53,853 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were purchased at an average cost of $18.87 per share, for a total transaction of $1,016,206.11. Following the transaction, the insider now owns 3,426,523 shares of the company’s stock, valued at approximately $64,658,489.01. This represents a 1.60 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On MasterCraft Boat

Several hedge funds have recently added to or reduced their stakes in the company. Forager Capital Management LLC lifted its position in MasterCraft Boat by 29.9% during the 3rd quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock valued at $30,915,000 after purchasing an additional 390,405 shares during the period. Systematic Financial Management LP lifted its holdings in MasterCraft Boat by 6.8% in the third quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after buying an additional 65,412 shares during the period. Dimensional Fund Advisors LP boosted its stake in MasterCraft Boat by 13.1% in the second 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. Empowered Funds LLC grew its holdings in MasterCraft Boat by 2.1% during the 3rd quarter. Empowered Funds LLC now owns 192,029 shares of the company’s stock worth $3,497,000 after acquiring an additional 4,036 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of MasterCraft Boat by 5.2% during the 3rd quarter. Victory Capital Management Inc. now owns 71,682 shares of the company’s stock valued at $1,305,000 after acquiring an additional 3,568 shares during 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.