Mastercraft Boat (MCFT) Cut to Hold at Zacks Investment Research

Mastercraft Boat (NASDAQ:MCFT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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. “

Several other equities analysts also recently commented on the stock. ValuEngine downgraded shares of Mastercraft Boat from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub upgraded shares of Mastercraft Boat from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $35.83.

NASDAQ:MCFT opened at $24.42 on Thursday. The firm has a market capitalization of $465.49 million, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 0.62 and a beta of 1.68. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.79 and a quick ratio of 0.38. Mastercraft Boat has a 52 week low of $17.60 and a 52 week high of $39.50.

Mastercraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.13. The business had revenue of $128.40 million during the quarter, compared to the consensus estimate of $122.72 million. Mastercraft Boat had a net margin of 10.15% and a return on equity of 73.69%. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 earnings per share. On average, sell-side analysts anticipate that Mastercraft Boat will post 2.68 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Divisar Capital Management LLC lifted its position in shares of Mastercraft Boat by 48.3% during the 4th quarter. Divisar Capital Management LLC now owns 825,600 shares of the company’s stock worth $15,439,000 after purchasing an additional 268,719 shares during the last quarter. Royce & Associates LP lifted its position in shares of Mastercraft Boat by 8.0% during the 1st quarter. Royce & Associates LP now owns 648,708 shares of the company’s stock worth $14,641,000 after purchasing an additional 47,893 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Mastercraft Boat by 12.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 638,249 shares of the company’s stock worth $14,405,000 after purchasing an additional 69,187 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in shares of Mastercraft Boat by 628.9% during the 1st quarter. Rice Hall James & Associates LLC now owns 564,808 shares of the company’s stock worth $12,748,000 after purchasing an additional 487,325 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new stake in shares of Mastercraft Boat during the 1st quarter worth $11,347,000. 94.83% of the stock is 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.

Further Reading: Support Level

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