MasterCraft Boat (NASDAQ:MCFT) Rating Reiterated by Truist Financial

MasterCraft Boat (NASDAQ:MCFT)‘s stock had its “hold” rating reaffirmed by equities researchers at Truist Financial in a research report issued on Friday, Benzinga reports. They presently have a $15.00 price objective on the stock. Truist Financial’s price objective points to a potential downside of 19.05% from the company’s current price.

A number of other analysts have also issued reports on MCFT. Stifel Nicolaus reiterated a “buy” rating and set a $22.00 price objective on shares of MasterCraft Boat in a research note on Friday. B. Riley dropped their price target on shares of MasterCraft Boat from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.20.

MasterCraft Boat Stock Down 0.7 %

Shares of MasterCraft Boat stock opened at $18.53 on Friday. The company has a fifty day moving average price of $19.50 and a 200 day moving average price of $20.67. The company has a current ratio of 2.02, a quick ratio of 1.54 and a debt-to-equity ratio of 0.23. MasterCraft Boat has a twelve month low of $17.31 and a twelve month high of $24.05. The stock has a market cap of $314.66 million, a price-to-earnings ratio of 8.35 and a beta of 1.63.

MasterCraft Boat (NASDAQ:MCFT) last issued its earnings results on Thursday, August 29th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.18. The company had revenue of $67.20 million during the quarter, compared to the consensus estimate of $63.10 million. MasterCraft Boat had a return on equity of 21.71% and a net margin of 8.26%. The company’s revenue was down 59.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 earnings per share. Equities research analysts forecast that MasterCraft Boat will post 0.85 earnings per share for the current fiscal year.

Insider Activity at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L acquired 18,084 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $20.57 per share, with a total value of $371,987.88. Following the acquisition, the insider now directly owns 3,073,973 shares in the company, valued at $63,231,624.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 296,502 shares of company stock valued at $5,948,360 over the last ninety days. Corporate 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 MCFT. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of MasterCraft Boat during the 1st quarter valued at approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MasterCraft Boat by 41.1% during 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 during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of MasterCraft Boat during the second quarter worth $190,000. CastleKnight Management LP acquired a new stake in shares of MasterCraft Boat during the fourth quarter worth $263,000. Finally, Janus Henderson Group PLC lifted its position in shares of 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 during the last quarter. Institutional investors and hedge funds 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.