MasterCraft Boat MCFT Rating Reduced to 'Hold' by StockNews.com Amid Stabilizing Market Position

MasterCraft Boat Holdings, Inc. MCFT, known for its high-performance recreational powerboats, has experienced a shift in stock rating by the analytical team at StockNews.com. On a recent Thursday, the company's rating was adjusted from 'buy' to 'hold.' This decision came as part of a broader analytical review by various financial entities, reflecting a recalibration of expectations for the boat manufacturer's stock amidst market fluctuations.

Analyst Perspectives on MasterCraft Boat

Aside from StockNews.com's downgrade, MasterCraft Boat has been the focal point of numerous other research reports. Truist Financial has reduced their price target for MCFT from $23.00 to $20.00, maintaining a 'hold' rating, while Robert W. Baird has adjusted their target from $40.00 to $30.00 but still recommends an 'outperform' rating. Stifel Nicolaus slashed their price aim from $33.00 to $29.00, also suggesting a 'buy' rating. Concurrently, Raymond James also lessened its price target from $25.00 to $23.00 and continues to advocate an 'outperform' status for the stock. Lastly, TheStreet has demoted their rating of MasterCraft Boat from a 'b' rating to a 'c+.' Collectively, these analyst reports lead to a consensus 'Hold' rating with an overall price target hovering around $24.50.

Market Performance and Insider Movements

On the trading front, shares of MasterCraft Boat MCFT were inaugurated at $19.95, marking a slight decrease from previous valuations. The company displays a 52-week range spanning a low of $19.25 and peaking at $35.29. It operates with a 50-day simple moving average of approximately $21.50 and a longer 200-day average at $25.88. Currently, MasterCraft's market capitalization stands at $343.14 million, with a price-to-earnings ratio of 4.94 and a beta of 1.78. MCFT's financial health can be further dissected through its quick ratio (1.34), current ratio (1.91), and a debt-to-equity ratio positioned at 0.26.

Looking into earnings, MasterCraft Boat shared its quarterly report on August 30th, posting $1.33 earnings per share (EPS), triumphing over the consensus estimate of $1.03 by $0.30. The revenue reported was $166.57 million against the forecasted $161.88 million. For the current fiscal year, analysts estimate MasterCraft Boat’s EPS to be $1.68.

In terms of ownership changes, significant shareholder Coliseum Capital Management, L, manifested confidence in the company with the purchase of 35,000 MCFT shares at an average price of $21.09 per share, concluding in a total investment of $738,150.00. Following this transaction, the insider's holdings amount to 1,756,974 shares valued at approximately $37,054,581.66. The acquisition has been made transparent through a legal filing with the SEC.

Institutional Investors and Ownership

Hedge funds and institutional investors have exhibited varying strategies regarding their stakes in MasterCraft Boat. Entities like Bailard Inc., American Century Companies Inc., O Shaughnessy Asset Management LLC, Globeflex Capital L P, and Prairiewood Capital LLC have adjusted their holdings, showing dynamic participation in the company’s equity. Overall, 97.64% of MasterCraft Boat's stock is owned by institutional investors and hedge funds.

The Essence of MasterCraft Boat Holdings, Inc.

With its headquarters nestled in Vonore, Tennessee, MasterCraft Boat Holdings, Inc. operates through various segments, specializing in the design, manufacturing, and marketing of premium recreational powerboats that serve a diverse array of water activities. Its product portfolio caters to enthusiasts of water skiing, wakeboarding, wake surfing, and other boating pursuits.

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