MasterCraft Boat (NASDAQ:MCFT) Given New $15.00 Price Target at Truist Financial

MasterCraft Boat (NASDAQ:MCFT) had its price objective decreased by Truist Financial from $20.00 to $15.00 in a research note released on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research firms also recently commented on MCFT. Stifel Nicolaus lowered their target price on shares of MasterCraft Boat from $27.00 to $25.00 and set a buy rating on the stock in a report on Thursday, May 9th. B. Riley reduced their price target on shares of MasterCraft Boat from $24.00 to $22.00 and set a neutral rating for the company in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $22.33.

MasterCraft Boat Stock Up 6.7 %

Shares of MasterCraft Boat stock opened at $18.85 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.54 and a current ratio of 2.02. The stock has a market capitalization of $320.07 million, a PE ratio of 8.49 and a beta of 1.63. MasterCraft Boat has a 52-week low of $17.31 and a 52-week high of $31.70. The company has a 50-day simple moving average of $19.87 and a two-hundred day simple moving average of $21.03.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The firm had revenue of $95.71 million during the quarter, compared to analyst estimates of $92.32 million. MasterCraft Boat had a net margin of 8.26% and a return on equity of 21.71%. On average, analysts anticipate that MasterCraft Boat will post 0.85 EPS for the current fiscal year.

Insider Transactions at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L acquired 38,462 shares of MasterCraft Boat stock in a transaction that occurred on Monday, June 24th. The shares were purchased at an average cost of $19.58 per share, for a total transaction of $753,085.96. Following the acquisition, the insider now owns 3,372,670 shares in the company, valued at $66,036,878.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 779,630 shares of company stock worth $15,949,590 in the last quarter. Company insiders own 2.50% of the company’s stock.

Institutional Trading of MasterCraft Boat

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. grew its position in MasterCraft Boat by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock valued at $4,723,000 after acquiring an additional 617 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of MasterCraft Boat by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,998 shares of the company’s stock worth $380,000 after buying an additional 857 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in MasterCraft Boat by 41.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,486 shares of the company’s stock valued at $102,000 after purchasing an additional 1,306 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in MasterCraft Boat by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 70,296 shares of the company’s stock valued at $1,592,000 after purchasing an additional 1,441 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in MasterCraft Boat in the first quarter valued at approximately $43,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

About MasterCraft Boat

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.