MasterCraft Boat Holdings, Inc. (MCFT) – Is The Recent Reaction Justified?

The stock of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) has been Downgraded to Mkt Perform from Strong Buy by Raymond James in its latest research note that was published on July 22. B. Riley FBR analysts again handed out a Buy rating to MCFT stock but they lifted target price for the shares in a flash note to investors on September 07. The price target has been raised from $28 to $36.50. Analysts at B. Riley FBR, Inc. are sticking to their Buy recommendation. However, on December 18, they lifted target price for these shares to $28 from $24.Analysts at B. Riley FBR, Inc., made their first call for the stock with a Buy rating, according to a research note that dated back to December 18.

MasterCraft Boat Holdings, Inc., which has current market capitalization of above $258 Million, published its last quarter earnings on March 31, 2019.

MCFT declined by $-2.97 during the normal trading session on Thursday and reaching a high of $15.28 during the day while it closed the day at $13.99. The MasterCraft stock had a low trading volume of 2.03 million shares on that day, which is low compared to the average daily volume of 241.91M shares. MCFT has also lost 10.44% of its value over the past 7 days. However, the stock has declined by 31.99% in the 3 months of the year. Over the past six months meanwhile, it has lost 40.01% while it has lost 25.19% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -35.02% from its 3 months high price. However, taking another look at MCFT will indicate that it is trading +4.95% away from its 90-day low. Looking at the bigger picture, the MasterCraft Boat Holdings, Inc. stock has dropped by -64.58% from its 52-week high while it has surged by +4.95% from its 52-week low price.

On June 07, 2019 Brightbill Frederick A., Director sold 5000 shares of the company. The average price for that transaction was $20.84 per share, which meant that Brightbill Frederick A. earned $104200 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with President, Crest Marine LLC, May Patrick purchasing 4185 shares of this stock on May 17, 2019. The average purchasing price for the stock was $24.06 per share, with the purchased stock accruing $100691.1. Following this transaction, the President, Crest Marine LLC May Patrick now holds 320062 shares of the company, which is worth around $5841132.

MasterCraft has around 5 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $74 Billion. The MasterCraft stock is bringing in revenue of over 12 months, which is roughly 128 Billion. Despite all that, MasterCraft Boat Holdings, Inc. is seeing things progressing very much as their y-o-y quarterly revenue surged by 36.86%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 8.3%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 13.2%. Over the past 20 days, MasterCraft’s Stochastic %K stood at 68.62% while its Stochastic %D was revealed to be 85.84%.