Shares of Mastercraft Boat Holdings Inc (NASDAQ:MCFT) have earned an average recommendation of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $20.25.
Several brokerages recently weighed in on MCFT. B. Riley restated a “buy” rating and set a $25.00 price objective on shares of Mastercraft Boat in a research report on Tuesday, August 18th. Robert W. Baird raised Mastercraft Boat from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Tuesday, September 22nd. Zacks Investment Research cut Mastercraft Boat from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. ValuEngine cut Mastercraft Boat from a “hold” rating to a “sell” rating in a report on Tuesday, September 15th. Finally, BidaskClub raised Mastercraft Boat from a “hold” rating to a “buy” rating in a report on Wednesday.
Several hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in shares of Mastercraft Boat in the third quarter valued at about $375,000. Neuberger Berman Group LLC grew its stake in Mastercraft Boat by 44.4% during the second quarter. Neuberger Berman Group LLC now owns 102,025 shares of the company’s stock worth $1,944,000 after purchasing an additional 31,380 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Mastercraft Boat by 10.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 48,231 shares of the company’s stock worth $919,000 after purchasing an additional 4,373 shares during the period. Intrinsic Edge Capital Management LLC acquired a new stake in Mastercraft Boat during the second quarter worth approximately $4,887,000. Finally, AWM Investment Company Inc. acquired a new stake in Mastercraft Boat during the second quarter worth approximately $2,381,000. 84.58% of the stock is owned by institutional investors.
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NASDAQ:MCFT opened at $20.00 on Friday. The stock has a fifty day moving average price of $19.19 and a 200-day moving average price of $15.91. The company has a market cap of $379.72 million, a price-to-earnings ratio of -15.62 and a beta of 2.38. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.56 and a current ratio of 1.02. Mastercraft Boat has a fifty-two week low of $4.90 and a fifty-two week high of $23.53.
Mastercraft Boat (NASDAQ:MCFT) last announced its quarterly earnings data on Wednesday, September 9th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.20. Mastercraft Boat had a positive return on equity of 35.97% and a negative net margin of 6.62%. Research analysts predict that Mastercraft Boat will post 1.89 EPS for the current fiscal year.
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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This too shall pass. Those four words should be taped to the computer screen of every investor. If you own shares of the tech sector, you’ve seen your portfolio take quite a hit. Tech stocks were largely immune from the effects of the pandemic.
However, as investors are looking to rebalance their portfolios, tech stocks were obvious targets for some profit-taking. And at the end of the day, that’s what I believe the latest tech selloff amounts to. Stocks don’t move in one direction all the time. Sure, there may be some saber-rattling about breaking up big tech. But with an election in less than two months, nobody will have the political will to do anything.
That doesn’t mean that it’s all going to be smooth sailing. Sure, the Federal Reserve did its part by promising low-interest rates until the end of time (or at least through 2023 whatever comes first). But the rest of 2020 is likely to be volatile for stocks.
First, there’s still the novel coronavirus hanging around. It’s not going to simply disappear after election day. That will take some combination of a vaccine and/or therapeutic. And all the likely candidates seem to be getting farther away the deeper into clinical trials they get.
And we have an election. But we are not likely to know the winner of the election on election night. In fact, for those who remember the spectacle of “hanging chads”, this election could make that one look like amateur hour.
The bottom line is there will be uncertainty. But there are always gains to be found, particularly now that their stock price has come down a little bit. Here are seven tech stocks that you can look to add or increase a position in now that they’re trading at a discount.
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