MasterCraft Boat (NASDAQ:MCFT) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of MasterCraft Boat (NASDAQ:MCFT) from a sell rating to a hold rating in a report released on Wednesday morning.

Several other research firms have also issued reports on MCFT. DA Davidson reduced their target price on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Truist Financial reduced their target price on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. Finally, B. Riley upped their target price on MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, MasterCraft Boat currently has a consensus rating of “Hold” and an average target price of $20.50.

MasterCraft Boat Stock Performance

Shares of MCFT opened at $19.16 on Wednesday. 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 stock has a 50 day moving average price of $18.88 and a two-hundred day moving average price of $18.95. The firm has a market capitalization of $320.99 million, a P/E ratio of -47.90 and a beta of 1.67. MasterCraft Boat has a 52 week low of $16.12 and a 52 week high of $24.05.

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

Insider Activity at MasterCraft Boat

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

Institutional Investors Weigh In On MasterCraft Boat

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. purchased a new stake in shares of MasterCraft Boat during the third quarter worth $191,000. Systematic Financial Management LP lifted its position in shares of MasterCraft Boat by 6.8% during the third quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock worth $18,731,000 after acquiring an additional 65,412 shares in the last quarter. US Bancorp DE lifted its position in shares of MasterCraft Boat by 64.0% during the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after acquiring an additional 2,000 shares in the last quarter. Forager Capital Management LLC lifted its position in shares of MasterCraft Boat by 29.9% during the third quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock worth $30,915,000 after acquiring an additional 390,405 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of MasterCraft Boat by 5.2% during the third quarter. Victory Capital Management Inc. now owns 71,682 shares of the company’s stock worth $1,305,000 after acquiring an additional 3,568 shares in the last quarter. Hedge funds and other institutional investors 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.