Zacks Investment Research Lowers Mastercraft Boat (NASDAQ:MCFT) to Hold

Zacks Investment Research lowered shares of Mastercraft Boat (NASDAQ:MCFT) from a buy rating to a hold rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “MasterCraft Boat Holdings Inc. designs, manufactures and markets recreational powerboats through its subsidiaries. The company’s operating segment consists of MasterCraft and NauticStar. It offers boats and boat trailers; replacement and aftermarket boat parts and accessories as well as manufactures pontoon boats. MasterCraft Boat Holdings Inc., formerly known as MCBC Holdings Inc., is headquartered in Vonore, Tennessee. “

Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Zebra Technologies from a hold rating to a sell rating in a research note on Friday, May 24th. ValuEngine raised shares of XOMA from a sell rating to a hold rating in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $35.00.

Shares of NASDAQ MCFT opened at $20.91 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.38 and a debt-to-equity ratio of 1.42. Mastercraft Boat has a 52 week low of $17.60 and a 52 week high of $39.50. The business has a fifty day moving average price of $20.65. The stock has a market capitalization of $391.52 million, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 0.68 and a beta of 1.66.

Mastercraft Boat (NASDAQ:MCFT) last issued its earnings results on Thursday, May 9th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.65 by $0.13. Mastercraft Boat had a net margin of 10.15% and a return on equity of 73.69%. The company had revenue of $128.40 million for the quarter, compared to the consensus estimate of $122.72 million. During the same period in the previous year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. As a group, equities analysts predict that Mastercraft Boat will post 2.73 EPS for the current year.

In other Mastercraft Boat news, Director Frederick A. Brightbill sold 5,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $20.84, for a total transaction of $104,200.00. Following the transaction, the director now directly owns 29,323 shares of the company’s stock, valued at approximately $611,091.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick May acquired 4,185 shares of Mastercraft Boat stock in a transaction on Friday, May 17th. The shares were bought at an average cost of $24.06 per share, for a total transaction of $100,691.10. Following the completion of the transaction, the insider now owns 5,744 shares in the company, valued at approximately $138,200.64. The disclosure for this purchase can be found here. 2.79% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC bought a new stake in shares of Mastercraft Boat during the 4th quarter valued at $375,000. Stone Ridge Asset Management LLC boosted its holdings in shares of Mastercraft Boat by 8.5% during the 4th quarter. Stone Ridge Asset Management LLC now owns 27,800 shares of the company’s stock valued at $520,000 after buying an additional 2,186 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Mastercraft Boat by 15.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 569,062 shares of the company’s stock valued at $10,642,000 after buying an additional 76,305 shares in the last quarter. Dalton Greiner Hartman Maher & Co. boosted its holdings in shares of Mastercraft Boat by 6.9% during the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 263,641 shares of the company’s stock valued at $5,950,000 after buying an additional 17,098 shares in the last quarter. Finally, Foresters Investment Management Company Inc. bought a new stake in shares of Mastercraft Boat during the 4th quarter valued at $3,946,000. 95.52% 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. 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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