Mastercraft Boat (NASDAQ:MCFT) Cut to “Sell” at ValuEngine

Mastercraft Boat (NASDAQ:MCFT) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, ValuEngine reports.

A number of other research analysts have also recently issued reports on MCFT. Zacks Investment Research cut shares of Mastercraft Boat from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. BidaskClub cut shares of Mastercraft Boat from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. TheStreet raised shares of Mastercraft Boat from a “d+” rating to a “c-” rating in a research note on Friday, August 7th. B. Riley reissued a “buy” rating and set a $25.00 price objective on shares of Mastercraft Boat in a research note on Tuesday, August 18th. Finally, Raymond James raised their price objective on shares of Mastercraft Boat from $18.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.80.

Shares of Mastercraft Boat stock opened at $17.39 on Tuesday. Mastercraft Boat has a 12-month low of $4.90 and a 12-month high of $23.53. The company has a current ratio of 1.50, a quick ratio of 0.94 and a debt-to-equity ratio of 2.53. The stock has a market cap of $328.18 million, a PE ratio of -13.59 and a beta of 2.37. The company has a 50-day moving average of $20.81 and a two-hundred day moving average of $15.31.

Mastercraft Boat (NASDAQ:MCFT) last issued its 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 negative net margin of 6.62% and a positive return on equity of 32.96%. On average, sell-side analysts forecast that Mastercraft Boat will post 1.58 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Citigroup Inc. increased its stake in shares of Mastercraft Boat by 38.5% during the 1st quarter. Citigroup Inc. now owns 5,197 shares of the company’s stock worth $38,000 after purchasing an additional 1,444 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Mastercraft Boat by 117.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,662 shares of the company’s stock worth $41,000 after acquiring an additional 3,062 shares during the period. PNC Financial Services Group Inc. grew its stake in Mastercraft Boat by 20.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,000 shares of the company’s stock worth $88,000 after acquiring an additional 2,050 shares during the period. State of Tennessee Treasury Department grew its stake in Mastercraft Boat by 9.6% in the 1st quarter. State of Tennessee Treasury Department now owns 15,566 shares of the company’s stock worth $114,000 after acquiring an additional 1,358 shares during the period. Finally, Soltis Investment Advisors LLC purchased a new stake in Mastercraft Boat in the 1st quarter worth approximately $117,000. 84.58% 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.

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