StockNews.com Upgrades MasterCraft Boat (NASDAQ:MCFT) to “Hold”

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

A number of other research firms have also recently issued reports on MCFT. DA Davidson cut their price objective on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday. B. Riley increased their target price on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Truist Financial lowered their target price on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.50.

MasterCraft Boat Stock Performance

MCFT opened at $19.22 on Wednesday. MasterCraft Boat has a 12-month low of $16.12 and a 12-month high of $24.05. The stock has a market cap of $322.90 million, a price-to-earnings ratio of -48.05 and a beta of 1.67. The business has a 50 day moving average of $18.96 and a 200-day moving average of $18.96. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. MasterCraft Boat had a positive return on equity of 3.70% and a negative net margin of 2.29%. On average, equities research analysts expect that MasterCraft Boat will post 0.56 earnings per share for the current year.

Insider Transactions at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L acquired 55,000 shares of the stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the purchase, the insider now directly owns 3,562,615 shares in the company, valued at approximately $67,084,040.45. The trade was a 1.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MasterCraft Boat

A number of hedge funds have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new position in MasterCraft Boat during the 4th quarter worth $448,000. American Century Companies Inc. increased its stake in MasterCraft Boat by 4.0% during the 4th quarter. American Century Companies Inc. now owns 445,259 shares of the company’s stock worth $8,491,000 after acquiring an additional 17,118 shares during the period. Isthmus Partners LLC increased its stake in shares of MasterCraft Boat by 0.7% in the 4th quarter. Isthmus Partners LLC now owns 118,886 shares of the company’s stock valued at $2,267,000 after purchasing an additional 773 shares during the last quarter. LHM Inc. bought a new position in shares of MasterCraft Boat in the 4th quarter valued at $1,636,000. Finally, Victory Capital Management Inc. increased its stake in shares of MasterCraft Boat by 2.0% in the 4th quarter. Victory Capital Management Inc. now owns 73,112 shares of the company’s stock valued at $1,394,000 after purchasing an additional 1,430 shares during the last quarter. 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.