MasterCraft Boat (NASDAQ:MCFT) Downgraded by StockNews.com to "Sell"

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Monday.

Several other equities analysts have also weighed in on MCFT. DA Davidson raised their target price 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 objective on MasterCraft Boat from $22.00 to $20.00 and set a "hold" rating on the stock in a research note on Tuesday, January 7th. Finally, B. Riley upped their target price on MasterCraft Boat from $14.00 to $18.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, MasterCraft Boat has a consensus rating of "Hold" and an average price target of $20.75.

MasterCraft Boat Stock Up 2.7 %

NASDAQ:MCFT traded up $0.50 during mid-day trading on Monday, reaching $19.09. The stock had a trading volume of 74,539 shares, compared to its average volume of 63,646. The stock has a market cap of $320.71 million, a P/E ratio of -83.00 and a beta of 1.67. The business's 50 day moving average is $19.45 and its 200 day moving average is $19.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49. MasterCraft Boat has a fifty-two week low of $16.12 and a fifty-two week high of $24.05.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 EPS for the quarter, topping 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 company had revenue of $65.40 million for the quarter, compared to analyst estimates of $61.19 million. During the same quarter in the prior year, the business posted $0.43 EPS. MasterCraft Boat's quarterly revenue was down 37.2% on a year-over-year basis. As a group, sell-side analysts predict that MasterCraft Boat will post 0.61 earnings per share for the current year.

Insider Activity at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L bought 53,853 shares of the company's stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average price of $18.87 per share, with a total value of $1,016,206.11. Following the completion of the transaction, the insider now owns 3,426,523 shares of the company's stock, valued at $64,658,489.01. The trade was a 1.60 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is owned by corporate insiders.

Institutional Trading of MasterCraft Boat

A number of hedge funds have recently bought and sold shares of MCFT. Forager Capital Management LLC raised its position in shares of MasterCraft Boat by 29.9% during 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 last quarter. Dimensional Fund Advisors LP raised its holdings in 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 in the last quarter. Systematic Financial Management LP raised its holdings in 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 in the last quarter. Ballentine Partners LLC bought a new stake in shares of MasterCraft Boat in the 3rd quarter worth approximately $192,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of MasterCraft Boat during the 3rd quarter worth approximately $191,000. 97.64% of the stock is owned by institutional investors.

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.

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