MasterCraft Boat (NASDAQ:MCFT) Upgraded by StockNews.com to “Hold” Rating

MasterCraft Boat (NASDAQ:MCFT) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Other research analysts have also recently issued reports about the company. B. Riley increased their price target on MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Truist Financial reduced their price target on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, January 7th. Finally, DA Davidson increased their price target on MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, MasterCraft Boat currently has a consensus rating of “Hold” and an average target price of $20.75.

MasterCraft Boat Stock Down 2.0 %

MCFT stock opened at $17.84 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49. The stock has a market capitalization of $299.71 million, a P/E ratio of -77.57 and a beta of 1.67. The business has a 50-day moving average of $19.17 and a 200-day moving average of $19.00. MasterCraft Boat has a fifty-two week low of $16.12 and a fifty-two week high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.03 by $0.09. MasterCraft Boat had a positive return on equity of 6.55% and a negative net margin of 1.08%. The firm had revenue of $65.40 million during the quarter, compared to analysts’ expectations of $61.19 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The business’s quarterly revenue was down 37.2% compared to the same quarter last year. On average, sell-side analysts anticipate that MasterCraft Boat will post 0.61 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L bought 55,000 shares of the stock in a transaction dated Monday, December 30th. The shares were bought at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the completion of the purchase, the insider now owns 3,562,615 shares in the company, valued at approximately $67,084,040.45. This trade represents a 1.57 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On MasterCraft Boat

A number of large investors have recently made changes to their positions in MCFT. US Bancorp DE increased its stake in shares of MasterCraft Boat by 64.0% during the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after purchasing an additional 2,000 shares during the period. SG Americas Securities LLC bought a new position in shares of MasterCraft Boat during the third quarter worth approximately $126,000. Quest Partners LLC bought a new position in shares of MasterCraft Boat during the third quarter worth approximately $150,000. Metis Global Partners LLC bought a new position in shares of MasterCraft Boat during the third quarter worth approximately $190,000. Finally, Squarepoint Ops LLC bought a new position in MasterCraft Boat during the 2nd quarter worth $190,000. Institutional investors own 97.64% of the company’s stock.

MasterCraft Boat Company Profile

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through MasterCraft, Crest, and Aviara segments. The MasterCraft segment produces premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating.