MasterCraft Boat (NASDAQ:MCFT) PT Lowered to $22.00

MasterCraft Boat (NASDAQ:MCFT) had its price objective reduced by equities research analysts at B. Riley from $24.00 to $22.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley’s target price suggests a potential upside of 5.57% from the company’s previous close.

Separately, Truist Financial lifted their price objective on MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.67.

MasterCraft Boat Stock Down 1.0 %

Shares of NASDAQ:MCFT opened at $20.84 on Tuesday. MasterCraft Boat has a 1 year low of $19.22 and a 1 year high of $31.70. The company has a market cap of $354.91 million, a PE ratio of 6.37 and a beta of 1.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.11 and a quick ratio of 1.58. The stock’s 50-day moving average is $22.06 and its 200 day moving average is $21.60.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.17. The company had revenue of $99.48 million for the quarter, compared to the consensus estimate of $95.53 million. MasterCraft Boat had a return on equity of 32.01% and a net margin of 10.66%. MasterCraft Boat’s revenue was down 37.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 EPS. Sell-side analysts anticipate that MasterCraft Boat will post 1.51 EPS for the current year.

Insider Transactions at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L purchased 118,620 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average cost of $21.84 per share, with a total value of $2,590,660.80. Following the transaction, the insider now directly owns 2,151,676 shares in the company, valued at approximately $46,992,603.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased a total of 214,095 shares of company stock valued at $4,646,393 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MasterCraft Boat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCFT. Bank of New York Mellon Corp boosted its holdings in MasterCraft Boat by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 82,990 shares of the company’s stock worth $2,042,000 after buying an additional 1,042 shares during the period. American Century Companies Inc. boosted its holdings in MasterCraft Boat by 121.7% in the 1st quarter. American Century Companies Inc. now owns 37,043 shares of the company’s stock worth $912,000 after buying an additional 20,334 shares during the period. Group One Trading L.P. boosted its holdings in MasterCraft Boat by 55.9% in the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the period. MetLife Investment Management LLC boosted its holdings in MasterCraft Boat by 67.7% in the 1st quarter. MetLife Investment Management LLC now owns 8,982 shares of the company’s stock worth $221,000 after buying an additional 3,626 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in MasterCraft Boat by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 539,870 shares of the company’s stock worth $13,287,000 after buying an additional 5,852 shares during the period. 97.64% of the stock is 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.