Mastercraft Boat (NASDAQ:MCFT) PT Lowered to $29.00 at B. Riley

Mastercraft Boat (NASDAQ:MCFT) had its target price lowered by B. Riley from $37.00 to $29.00 in a note issued to investors on Friday, The Fly reports. The firm currently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 99.86% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Mastercraft Boat from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Raymond James lowered shares of Mastercraft Boat from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 22nd. TheStreet lowered shares of Mastercraft Boat from a “b-” rating to a “c+” rating in a report on Thursday, August 15th. ValuEngine lowered shares of Mastercraft Boat from a “sell” rating to a “strong sell” rating in a report on Friday, May 24th. Finally, SunTrust Banks decreased their price objective on shares of Mastercraft Boat from $18.00 to $15.00 and set a “hold” rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $27.60.

Shares of Mastercraft Boat stock traded up $0.52 during mid-day trading on Friday, reaching $14.51. 579,288 shares of the stock were exchanged, compared to its average volume of 230,352. The company has a market cap of $329.36 million, a price-to-earnings ratio of 7.15, a price-to-earnings-growth ratio of 0.61 and a beta of 1.67. The company has a current ratio of 0.79, a quick ratio of 0.38 and a debt-to-equity ratio of 1.42. The firm has a 50-day simple moving average of $15.26 and a 200 day simple moving average of $20.62. Mastercraft Boat has a fifty-two week low of $13.33 and a fifty-two week high of $39.50.

Mastercraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, September 12th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. The business had revenue of $122.81 million during the quarter, compared to analysts’ expectations of $126.21 million. Mastercraft Boat had a net margin of 10.15% and a return on equity of 73.69%. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. On average, research analysts predict that Mastercraft Boat will post 2.71 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new position in shares of Mastercraft Boat in the 2nd quarter valued at about $25,000. New York State Teachers Retirement System bought a new position in shares of Mastercraft Boat in the 1st quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Mastercraft Boat by 106.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,017 shares of the company’s stock valued at $46,000 after purchasing an additional 1,041 shares during the last quarter. BNP Paribas Arbitrage SA bought a new position in shares of Mastercraft Boat in the 2nd quarter valued at about $42,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Mastercraft Boat by 336.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,476 shares of the company’s stock valued at $67,000 after purchasing an additional 2,680 shares during the last quarter. 94.77% 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. 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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