MasterCraft Boat (NASDAQ:MCFT) PT Lowered to $19.00

MasterCraft Boat (NASDAQ:MCFT) had its price objective decreased by analysts at B. Riley from $22.00 to $19.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley’s price objective suggests a potential upside of 0.80% from the company’s previous close.

Several other research firms have also recently commented on MCFT. Stifel Nicolaus reduced their target price on MasterCraft Boat from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Truist Financial reduced their target price on MasterCraft Boat from $20.00 to $15.00 and set a “hold” rating for the company in a research note on Monday. 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 company presently has a consensus rating of “Hold” and a consensus price target of $22.33.

MasterCraft Boat Stock Up 6.7 %

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

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.09. MasterCraft Boat had a net margin of 8.26% and a return on equity of 21.71%. The company had revenue of $95.71 million during the quarter, compared to the consensus estimate of $92.32 million. As a group, analysts forecast that MasterCraft Boat will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L acquired 26,039 shares of MasterCraft Boat stock in a transaction that occurred on Monday, April 22nd. The shares were purchased at an average cost of $21.34 per share, for a total transaction of $555,672.26. Following the completion of the purchase, the insider now directly owns 2,357,406 shares of the company’s stock, valued at approximately $50,307,044.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 779,630 shares of company stock worth $15,949,590 over the last ninety days. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On MasterCraft Boat

Several hedge funds and other institutional investors have recently modified their holdings of MCFT. Jacobs Levy Equity Management Inc. boosted its holdings in shares of MasterCraft Boat by 0.3% during the third 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 during the period. American Century Companies Inc. boosted its holdings in shares of MasterCraft Boat by 15.8% during the third quarter. American Century Companies Inc. now owns 258,634 shares of the company’s stock valued at $5,747,000 after acquiring an additional 35,374 shares during the period. Wellington Management Group LLP boosted its holdings in shares of MasterCraft Boat by 73.5% during the third quarter. Wellington Management Group LLP now owns 530,900 shares of the company’s stock valued at $11,797,000 after acquiring an additional 224,900 shares during the period. Ritholtz Wealth Management raised its stake in shares of MasterCraft Boat by 20.3% during the fourth quarter. Ritholtz Wealth Management now owns 28,632 shares of the company’s stock valued at $648,000 after purchasing an additional 4,822 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds 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.