Mastercraft Boat (MCFT) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Mastercraft Boat (NASDAQ:MCFT) from a buy rating to a hold rating in a report released 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. “

A number of other research analysts also recently weighed in on the company. ValuEngine downgraded Mastercraft Boat from a hold rating to a sell rating in a research note on Wednesday, May 15th. BidaskClub raised 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 issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $35.83.

Shares of MCFT stock opened at $23.67 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 twelve month low of $17.60 and a twelve month high of $39.50. The company has a market capitalization of $443.20 million, a P/E ratio of 11.66, a P/E/G ratio of 0.87 and a beta of 1.68.

Mastercraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.13. Mastercraft Boat had a return on equity of 73.69% and a net margin of 10.15%. The business had revenue of $128.40 million for the quarter, compared to the consensus estimate of $122.72 million. During the same period last year, the business earned $0.56 EPS. The firm’s revenue was up 36.9% compared to the same quarter last year. On average, research analysts forecast that Mastercraft Boat will post 2.71 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. First Quadrant L P CA increased its position in Mastercraft Boat by 31.8% in the 4th quarter. First Quadrant L P CA now owns 39,535 shares of the company’s stock worth $739,000 after buying an additional 9,543 shares during the period. Hsbc Holdings PLC bought a new position in Mastercraft Boat in the 4th quarter worth approximately $375,000. 361 Capital LLC bought a new position in Mastercraft Boat in the 4th quarter worth approximately $1,471,000. Stone Ridge Asset Management LLC increased its position in Mastercraft Boat by 8.5% in the 4th quarter. Stone Ridge Asset Management LLC now owns 27,800 shares of the company’s stock worth $520,000 after buying an additional 2,186 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Mastercraft Boat by 15.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 569,062 shares of the company’s stock worth $10,642,000 after buying an additional 76,305 shares during the period. 94.83% 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. 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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