Zacks Investment Research lowered shares of MasterCraft Boat (NASDAQ:MCFT) from a buy rating to a sell rating in a report published on Wednesday, 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. “

Other equities research analysts also recently issued reports about the company. Truist increased their price target on MasterCraft Boat from $17.00 to $22.00 in a research report on Thursday, November 12th. ValuEngine upgraded MasterCraft Boat from a strong sell rating to a sell rating in a research report on Tuesday, December 1st. B. Riley raised their target price on MasterCraft Boat from $34.00 to $36.00 and gave the company a neutral rating in a research report on Tuesday. They noted that the move was a valuation call. Raymond James raised their target price on MasterCraft Boat from $25.50 to $29.00 and gave the company an outperform rating in a research report on Monday, January 4th. Finally, BidaskClub cut MasterCraft Boat from a strong-buy rating to a buy rating in a research report on Thursday, December 31st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. MasterCraft Boat currently has a consensus rating of Hold and a consensus price target of $24.33.

Shares of MCFT opened at $27.71 on Wednesday. The business’s 50-day moving average is $24.54 and its two-hundred day moving average is $21.39. The company has a market capitalization of $525.16 million, a P/E ratio of -22.53 and a beta of 2.24. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.47 and a current ratio of 1.01. MasterCraft Boat has a fifty-two week low of $4.90 and a fifty-two week high of $29.29.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Monday, November 16th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.25. The company had revenue of $103.75 million for the quarter, compared to the consensus estimate of $96.17 million. MasterCraft Boat had a positive return on equity of 40.33% and a negative net margin of 6.47%. Analysts forecast that MasterCraft Boat will post 2.39 EPS for the current year.

A number of institutional investors have recently modified their holdings of MCFT. Clark Estates Inc. NY purchased a new position in MasterCraft Boat in the 3rd quarter valued at about $2,344,000. Wasatch Advisors Inc. lifted its stake in MasterCraft Boat by 22.9% in the 3rd quarter. Wasatch Advisors Inc. now owns 666,194 shares of the company’s stock valued at $11,652,000 after buying an additional 124,001 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in MasterCraft Boat by 19.7% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 544,870 shares of the company’s stock valued at $9,530,000 after buying an additional 89,719 shares in the last quarter. Skylands Capital LLC lifted its stake in MasterCraft Boat by 45.8% in the 3rd quarter. Skylands Capital LLC now owns 226,550 shares of the company’s stock valued at $3,962,000 after buying an additional 71,150 shares in the last quarter. Finally, Brinker Capital Investments LLC purchased a new position in MasterCraft Boat in the 3rd quarter valued at about $936,000. 81.41% of the stock is currently owned by hedge funds and other institutional investors.

MasterCraft Boat Company Profile

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.

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