MasterCraft Boat (NASDAQ:MCFT) Price Target Cut to $17.00 by Analysts at DA Davidson

MasterCraft Boat (NASDAQ:MCFT) had its target price reduced by DA Davidson from $20.00 to $17.00 in a research report report published on Tuesday morning, Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. Truist Financial reaffirmed a hold rating and set a $15.00 target price on shares of MasterCraft Boat in a research note on Friday, August 30th. B. Riley decreased their target price on MasterCraft Boat from $22.00 to $19.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. StockNews.com downgraded shares of MasterCraft Boat from a hold rating to a sell rating in a report on Monday, September 2nd. Finally, Stifel Nicolaus restated a buy rating and issued a $22.00 price target on shares of MasterCraft Boat in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $19.20.

MasterCraft Boat Trading Down 3.3 %

NASDAQ:MCFT opened at $16.65 on Tuesday. The company’s 50 day moving average price is $19.33 and its 200-day moving average price is $20.44. The company has a quick ratio of 1.42, a current ratio of 1.99 and a debt-to-equity ratio of 0.24. MasterCraft Boat has a 52 week low of $16.35 and a 52 week high of $24.05. The stock has a market cap of $276.56 million, a price-to-earnings ratio of 7.50 and a beta of 1.61.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Thursday, August 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.18. The firm had revenue of $67.20 million for the quarter, compared to the consensus estimate of $63.10 million. MasterCraft Boat had a return on equity of 9.44% and a net margin of 2.13%. The company’s revenue for the quarter was down 59.7% on a year-over-year basis. During the same period last year, the business posted $1.33 EPS. On average, equities research analysts forecast that MasterCraft Boat will post 0.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 63,600 shares of the stock in a transaction on Thursday, June 13th. The shares were bought at an average price of $20.27 per share, for a total transaction of $1,289,172.00. Following the completion of the transaction, the insider now owns 3,137,573 shares of the company’s stock, valued at approximately $63,598,604.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have purchased 179,972 shares of company stock worth $3,572,996. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MCFT. Wasatch Advisors LP raised its position in MasterCraft Boat by 34.2% in the 1st quarter. Wasatch Advisors LP now owns 381,471 shares of the company’s stock valued at $9,048,000 after purchasing an additional 97,170 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in MasterCraft Boat by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock valued at $13,484,000 after purchasing an additional 82,509 shares during the last quarter. Isthmus Partners LLC raised its holdings in MasterCraft Boat by 71.5% during the first quarter. Isthmus Partners LLC now owns 146,174 shares of the company’s stock worth $3,467,000 after purchasing an additional 60,947 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of MasterCraft Boat by 11.2% during the 4th quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock worth $13,360,000 after buying an additional 59,200 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of MasterCraft Boat by 27,130.8% in the 1st 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 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.