Zacks Investment Research Downgrades MasterCraft Boat (NASDAQ:MCFT) to Hold

MasterCraft Boat (NASDAQ:MCFTGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday, 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 analysts have also recently issued reports on the company. StockNews.com assumed coverage on MasterCraft Boat in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Truist Financial dropped their target price on MasterCraft Boat from $30.00 to $26.00 in a research report on Wednesday, January 26th. Raymond James increased their target price on MasterCraft Boat from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, February 4th. Finally, B. Riley reissued a “buy” rating and issued a $47.00 price objective on shares of MasterCraft Boat in a research report on Monday, March 28th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $37.20.

Shares of NASDAQ:MCFT opened at $22.57 on Friday. MasterCraft Boat has a 52-week low of $22.08 and a 52-week high of $33.63. The stock has a market cap of $417.50 million, a P/E ratio of 7.14 and a beta of 2.00. The business’s 50 day moving average is $26.48 and its 200 day moving average is $26.73. The company has a quick ratio of 0.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.57.

MasterCraft Boat (NASDAQ:MCFTGet Rating) last announced its quarterly earnings data on Thursday, February 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.11. MasterCraft Boat had a return on equity of 58.85% and a net margin of 9.87%. The company had revenue of $159.47 million for the quarter, compared to analysts’ expectations of $153.52 million. During the same quarter in the prior year, the firm earned $0.72 earnings per share. On average, sell-side analysts anticipate that MasterCraft Boat will post 4.08 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Barclays PLC raised its stake in MasterCraft Boat by 28.3% in the 4th quarter. Barclays PLC now owns 22,822 shares of the company’s stock worth $646,000 after acquiring an additional 5,039 shares during the last quarter. BlackRock Inc. raised its stake in MasterCraft Boat by 0.4% in the 4th quarter. BlackRock Inc. now owns 1,208,404 shares of the company’s stock worth $34,235,000 after acquiring an additional 4,413 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in MasterCraft Boat by 16.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 19,917 shares of the company’s stock worth $564,000 after acquiring an additional 2,828 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in MasterCraft Boat in the 4th quarter worth $444,000. Finally, Deutsche Bank AG raised its stake in MasterCraft Boat by 5.3% in the 4th quarter. Deutsche Bank AG now owns 12,178 shares of the company’s stock worth $345,000 after acquiring an additional 614 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

About MasterCraft Boat (Get Rating)

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through three segments: MasterCraft, NauticStar, and Crest. The MasterCraft segment produces recreational performance sport boats and luxury day boats under the MasterCraft and Aviara brands, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

Further Reading

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