Mastercraft Boat (NASDAQ:MCFT) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Mastercraft Boat (NASDAQ:MCFT) from a hold rating to a strong sell rating in a research note released on Tuesday morning,Zacks reports.

Several other research firms also recently commented on MCFT. B Riley reiterated a “neutral” rating on shares of Mastercraft Boat in a research report on Tuesday. Robert W. Baird dropped their price target on shares of Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, September 11th. Truist Financial boosted their price objective on shares of Mastercraft Boat from $25.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Weiss Ratings downgraded Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, September 11th. Finally, B. Riley Financial reaffirmed a “neutral” rating and set a $22.00 target price (down from $25.00) on shares of Mastercraft Boat in a research report on Wednesday. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $24.25.

Mastercraft Boat Stock Down 2.2%

NASDAQ MCFT opened at $19.15 on Tuesday. The company has a market cap of $311.76 million, a price-to-earnings ratio of -957.02 and a beta of 1.07. Mastercraft Boat has a twelve month low of $17.19 and a twelve month high of $28.44. The business’s fifty day moving average is $23.95 and its 200 day moving average is $23.08.

Mastercraft Boat (NASDAQ:MCFT) last posted its earnings results on Thursday, September 10th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $129.94 million during the quarter, compared to the consensus estimate of $101.79 million. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%.The business’s quarterly revenue was up 63.4% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. On average, research analysts anticipate that Mastercraft Boat will post 1.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mastercraft Boat

A number of institutional investors have recently modified their holdings of MCFT. Legal & General Group Plc bought a new position in Mastercraft Boat during the second quarter worth $46,000. Meeder Asset Management Inc. bought a new stake in Mastercraft Boat during the second quarter valued at $79,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Mastercraft Boat during the 2nd quarter worth about $231,000. State of Wyoming bought a new position in shares of Mastercraft Boat in the 2nd quarter worth about $239,000. Finally, Fifth Third Bancorp bought a new position in shares of Mastercraft Boat in the 1st quarter worth about $253,000. 97.64% of the stock is owned by institutional investors.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for MasterCraft-branded performance boats, including wake, surf and ski boats designed for watersports and recreational use.

Its portfolio has also included Crest pontoon boats and Aviara luxury dayboats, serving customers seeking family-oriented boating, cruising and premium recreational vessels. The company sells its boats through a network of independent dealers and supports its products with parts, accessories and related services.

MasterCraft traces its origins to 1968 and is headquartered in Vonore, Tennessee.