MasterCraft Boat (NASDAQ:MCFT) Upgraded at B. Riley

B. Riley upgraded shares of MasterCraft Boat (NASDAQ:MCFT) to a hold rating in a research report released on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on MCFT. DA Davidson reduced their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. StockNews.com upgraded shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Truist Financial reduced their target price on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.50.

MasterCraft Boat Stock Performance

NASDAQ MCFT opened at $19.16 on Wednesday. MasterCraft Boat has a 52-week low of $16.12 and a 52-week high of $24.05. The company has a 50-day simple moving average of $18.88 and a 200 day simple moving average of $18.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.49 and a current ratio of 2.01. The company has a market capitalization of $320.99 million, a PE ratio of -47.90 and a beta of 1.67.

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

Insider Activity

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

Institutional Investors Weigh In On MasterCraft Boat

Several hedge funds have recently bought and sold shares of MCFT. US Bancorp DE lifted its position in MasterCraft Boat by 64.0% during the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after purchasing an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in MasterCraft Boat by 260.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company’s stock valued at $118,000 after purchasing an additional 4,487 shares during the last quarter. SG Americas Securities LLC bought a new stake in MasterCraft Boat during the third quarter valued at approximately $126,000. JPMorgan Chase & Co. lifted its position in MasterCraft Boat by 7.5% during the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock valued at $149,000 after purchasing an additional 544 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in MasterCraft Boat during the third quarter valued at approximately $150,000. 97.64% of the stock is currently owned by institutional investors.

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.