Stifel Nicolaus Cuts MasterCraft Boat (NASDAQ:MCFT) Price Target to $22.00

MasterCraft Boat (NASDAQ:MCFT) had its price target trimmed by Stifel Nicolaus from $25.00 to $22.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently commented on MCFT. B. Riley reduced their price target on shares of MasterCraft Boat from $22.00 to $19.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Truist Financial reduced their price target on shares of MasterCraft Boat from $20.00 to $15.00 and set a hold rating for the company in a report on Monday, July 8th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $21.83.

MasterCraft Boat Trading Up 0.4 %

NASDAQ:MCFT opened at $18.92 on Friday. The firm’s fifty day moving average is $19.85 and its 200-day moving average is $20.97. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.54 and a current ratio of 2.02. MasterCraft Boat has a 52 week low of $17.31 and a 52 week high of $31.70. The firm has a market cap of $321.26 million, a P/E ratio of 8.52 and a beta of 1.63.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The company had revenue of $95.71 million for 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%. Equities analysts expect that MasterCraft Boat will post 0.85 earnings per share for the current year.

Insider Activity at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L purchased 38,462 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average cost of $19.58 per share, with a total value of $753,085.96. Following the completion of the transaction, the insider now directly owns 3,372,670 shares of the company’s stock, valued at $66,036,878.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 779,630 shares of company stock valued at $15,949,590 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On MasterCraft Boat

Hedge funds have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in MasterCraft Boat during the first quarter valued at approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in MasterCraft Boat by 41.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,486 shares of the company’s stock worth $102,000 after buying an additional 1,306 shares in the last quarter. Carmel Capital Partners LLC grew its stake in MasterCraft Boat by 596.4% in the 4th quarter. Carmel Capital Partners LLC now owns 8,879 shares of the company’s stock worth $201,000 after buying an additional 7,604 shares in the last quarter. CastleKnight Management LP purchased a new position in MasterCraft Boat in the 4th quarter worth approximately $263,000. Finally, Janus Henderson Group PLC grew its stake in MasterCraft Boat by 40.5% in the 1st quarter. Janus Henderson Group PLC now owns 13,047 shares of the company’s stock worth $310,000 after buying an additional 3,762 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.