Mastercraft Boat (NASDAQ:MCFT) Price Target Cut to $15.00 by Analysts at SunTrust Banks

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Mastercraft Boat (NASDAQ:MCFT) had its price objective decreased by SunTrust Banks from $18.00 to $15.00 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. SunTrust Banks currently has a hold rating on the stock.

Other equities analysts also recently issued research reports about the stock. TheStreet downgraded shares of Mastercraft Boat from a b- rating to a c+ rating in a research note on Thursday, August 15th. B. Riley cut their price target on shares of Mastercraft Boat from $43.00 to $37.00 and set a buy rating on the stock in a report on Tuesday, August 27th. Zacks Investment Research cut shares of Mastercraft Boat from a hold rating to a sell rating in a report on Saturday, July 20th. ValuEngine cut shares of Mastercraft Boat from a sell rating to a strong sell rating in a report on Friday, May 24th. Finally, BidaskClub upgraded shares of Mastercraft Boat from a strong sell rating to a sell rating in a report on Tuesday, September 10th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $27.60.

Shares of NASDAQ MCFT opened at $14.51 on Friday. Mastercraft Boat has a fifty-two week low of $13.33 and a fifty-two week high of $39.50. The company has a 50 day simple moving average of $15.22 and a two-hundred day simple moving average of $20.57. The company has a market capitalization of $261.95 million, a price-to-earnings ratio of 5.28, a P/E/G ratio of 0.48 and a beta of 1.67. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.38 and a current ratio of 0.79.

Mastercraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, September 12th. The company reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.06. Mastercraft Boat had a net margin of 4.58% and a return on equity of 74.22%. The business had revenue of $122.81 million during the quarter, compared to the consensus estimate of $126.21 million. During the same quarter last year, the firm earned $0.68 earnings per share. The business’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, analysts forecast that Mastercraft Boat will post 2.9 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in Mastercraft Boat in the second quarter worth approximately $25,000. New York State Teachers Retirement System purchased a new position in shares of Mastercraft Boat during the 1st quarter worth $36,000. BNP Paribas Arbitrage SA purchased a new position in shares of Mastercraft Boat during the 2nd quarter worth $42,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Mastercraft Boat by 106.7% during 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 during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of Mastercraft Boat by 336.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,476 shares of the company’s stock worth $67,000 after acquiring an additional 2,680 shares during the last quarter. Institutional investors own 94.77% of the company’s stock.

About Mastercraft Boat

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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