Zacks Investment Research downgraded shares of Mastercraft Boat (NASDAQ:MCFT) from a buy rating to a hold rating in a research note issued to investors on Thursday, 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 equities research analysts have also commented on MCFT. ValuEngine raised shares of XOMA from a sell rating to a hold rating in a research report on Friday, May 24th. BidaskClub lowered shares of Zebra Technologies from a hold rating to a sell rating in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Mastercraft Boat has a consensus rating of Buy and a consensus price target of $35.00.

NASDAQ MCFT opened at $20.91 on Thursday. Mastercraft Boat has a 52 week low of $17.60 and a 52 week high of $39.50. The stock has a market cap of $391.52 million, a price-to-earnings ratio of 8.17, a P/E/G ratio of 0.68 and a beta of 1.66. The company has a quick ratio of 0.38, a current ratio of 0.79 and a debt-to-equity ratio of 1.42. The company’s 50-day simple moving average is $20.65.

Mastercraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.13. Mastercraft Boat had a net margin of 10.15% and a return on equity of 73.69%. The firm had revenue of $128.40 million during the quarter, compared to analyst estimates of $122.72 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. As a group, analysts forecast that Mastercraft Boat will post 2.73 EPS for the current fiscal year.

In related news, Director Frederick A. Brightbill sold 5,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $20.84, for a total value of $104,200.00. Following the completion of the sale, the director now directly owns 29,323 shares of the company’s stock, valued at approximately $611,091.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick May bought 4,185 shares of Mastercraft Boat stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average cost of $24.06 per share, with a total value of $100,691.10. Following the completion of the acquisition, the insider now directly owns 5,744 shares in the company, valued at approximately $138,200.64. The disclosure for this purchase can be found here. 2.79% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its holdings in Mastercraft Boat by 17.1% in the 4th quarter. Legal & General Group Plc now owns 3,349 shares of the company’s stock worth $62,000 after acquiring an additional 490 shares in the last quarter. Citigroup Inc. increased its holdings in Mastercraft Boat by 9.2% in the 4th quarter. Citigroup Inc. now owns 5,968 shares of the company’s stock worth $112,000 after acquiring an additional 502 shares in the last quarter. Brandywine Global Investment Management LLC increased its holdings in Mastercraft Boat by 11.1% in the 4th quarter. Brandywine Global Investment Management LLC now owns 10,040 shares of the company’s stock worth $188,000 after acquiring an additional 1,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Mastercraft Boat by 106.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,017 shares of the company’s stock worth $46,000 after acquiring an additional 1,041 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new stake in Mastercraft Boat in the 1st quarter worth approximately $25,000. 95.52% of the stock is owned by institutional investors.

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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