Raymond James analyst Joseph Altobello downgraded MasterCraft (MCFT) to Market Perform from Strong Buy and removed his prior price target. In a research note to investors, Altobello says weak trends in the boat space are getting worse within the U.S. market, and notes the double-digit decline in registrations in June which was reported Friday, with registrations down ~14% for the month and down ~6% year-to-date, and says he fears the "late cycle" concerns that have weighed on many marine stocks so far this year are beginning to manifest themselves on the demand side, which he feels is likely to continue and is the beginning of "viscous cycle." The analyst also downgraded Marine Max (HZO) and Malibu Boats (MBUU) to Market Perform from Strong Buy.