Principal Financial Group Inc. Makes New Investment in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Principal Financial Group Inc. bought a new stake in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,509 shares of the company’s stock, valued at approximately $191,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of MasterCraft Boat by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock worth $13,484,000 after acquiring an additional 82,509 shares during the last quarter. Comerica Bank boosted its position in shares of MasterCraft Boat by 27,130.8% during the first quarter. Comerica Bank now owns 56,640 shares of the company’s stock valued at $1,343,000 after buying an additional 56,432 shares during the period. American Century Companies Inc. grew its stake in shares of MasterCraft Boat by 14.8% during the second quarter. American Century Companies Inc. now owns 395,570 shares of the company’s stock valued at $7,468,000 after buying an additional 51,016 shares during the last quarter. Systematic Financial Management LP lifted its stake in shares of MasterCraft Boat by 2.8% during the 2nd quarter. Systematic Financial Management LP now owns 963,173 shares of the company’s stock worth $18,185,000 after acquiring an additional 26,077 shares during the last quarter. Finally, Koss Olinger Consulting LLC bought a new stake in shares of MasterCraft Boat during the 2nd quarter worth approximately $417,000. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MCFT. DA Davidson lifted their price target on shares of MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. StockNews.com downgraded MasterCraft Boat from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. Truist Financial increased their price objective on shares of MasterCraft Boat from $15.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Stifel Nicolaus reiterated a “buy” rating and set a $22.00 price target on shares of MasterCraft Boat in a research note on Friday, August 30th. Finally, B. Riley boosted their target price on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.25.

MasterCraft Boat Stock Up 2.5 %

Shares of MCFT opened at $21.88 on Tuesday. MasterCraft Boat Holdings, Inc. has a 12-month low of $16.12 and a 12-month high of $24.05. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $18.46 and its 200 day moving average price is $19.23. The firm has a market cap of $367.58 million, a P/E ratio of -95.13 and a beta of 1.61.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $65.40 million during the quarter, compared to the consensus estimate of $61.19 million. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The firm’s quarterly revenue was down 37.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, sell-side analysts forecast that MasterCraft Boat Holdings, Inc. will post 0.61 earnings per share for the current year.

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.