Mastercraft Boat (NASDAQ:MCFT) Lowered to Sell at ValuEngine

ValuEngine lowered shares of Mastercraft Boat (NASDAQ:MCFT) from a hold rating to a sell rating in a report issued on Tuesday, ValuEngine reports.

MCFT has been the subject of a number of other reports. TheStreet upgraded Mastercraft Boat from a d+ rating to a c- rating in a research report on Friday, August 7th. Raymond James lifted their price objective on Mastercraft Boat from $18.00 to $22.00 and gave the stock an outperform rating in a research report on Tuesday, July 21st. B. Riley reiterated a buy rating and issued a $25.00 price objective on shares of Mastercraft Boat in a research report on Tuesday, August 18th. BidaskClub lowered Mastercraft Boat from a buy rating to a hold rating in a research report on Saturday, August 22nd. Finally, Zacks Investment Research lowered Mastercraft Boat from a buy rating to a hold rating in a research report on Saturday, September 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Mastercraft Boat presently has an average rating of Hold and an average price target of $18.80.

Mastercraft Boat stock opened at $17.44 on Tuesday. The stock has a 50-day simple moving average of $20.92 and a 200 day simple moving average of $15.30. The company has a quick ratio of 0.94, a current ratio of 1.50 and a debt-to-equity ratio of 2.53. Mastercraft Boat has a 12-month low of $4.90 and a 12-month high of $23.53. The stock has a market capitalization of $329.13 million, a price-to-earnings ratio of -13.62 and a beta of 2.37.

Mastercraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Wednesday, September 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.20. Mastercraft Boat had a positive return on equity of 32.96% and a negative net margin of 6.62%. As a group, sell-side analysts anticipate that Mastercraft Boat will post 1.58 EPS for the current year.

Several institutional investors have recently bought and sold shares of MCFT. Soltis Investment Advisors LLC acquired a new position in shares of Mastercraft Boat during the 1st quarter worth about $117,000. Wasatch Advisors Inc. grew its position in shares of Mastercraft Boat by 66.6% in the 1st quarter. Wasatch Advisors Inc. now owns 685,755 shares of the company’s stock valued at $5,006,000 after purchasing an additional 274,014 shares during the period. Mackay Shields LLC grew its position in shares of Mastercraft Boat by 7.1% in the 1st quarter. Mackay Shields LLC now owns 189,900 shares of the company’s stock valued at $1,387,000 after purchasing an additional 12,600 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Mastercraft Boat by 20.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,000 shares of the company’s stock valued at $88,000 after purchasing an additional 2,050 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Mastercraft Boat by 73.0% in the 1st quarter. JPMorgan Chase & Co. now owns 57,276 shares of the company’s stock valued at $418,000 after purchasing an additional 24,175 shares during the period. Institutional investors own 84.58% of the company’s stock.

About Mastercraft Boat

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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