DA Davidson Lowers MasterCraft Boat (NASDAQ:MCFT) Price Target to $22.00

MasterCraft Boat (NASDAQ:MCFT) had its price target lowered by DA Davidson from $23.00 to $22.00 in a report issued on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. B. Riley lifted their target price on shares of MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Truist Financial decreased their price target on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, MasterCraft Boat presently has an average rating of “Hold” and an average price target of $20.50.

MasterCraft Boat Trading Down 1.9 %

Shares of NASDAQ:MCFT opened at $19.37 on Monday. 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 stock has a market capitalization of $325.34 million, a PE ratio of -48.42 and a beta of 1.67. MasterCraft Boat has a 1 year low of $16.12 and a 1 year high of $24.05. The firm has a fifty day moving average price of $18.99 and a 200 day moving average price of $18.97.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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%. Analysts expect that MasterCraft Boat will post 0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L acquired 55,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was bought at an average cost of $18.83 per share, with a total value of $1,035,650.00. Following the completion of the acquisition, the insider now owns 3,562,615 shares in the company, valued at $67,084,040.45. The trade was a 1.57 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

A number of institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE increased its position in shares of MasterCraft Boat by 64.0% in the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after acquiring an additional 2,000 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of MasterCraft Boat during the 3rd quarter worth approximately $126,000. Quest Partners LLC acquired a new position in shares of MasterCraft Boat during the 3rd quarter worth $150,000. Squarepoint Ops LLC acquired a new position in MasterCraft Boat during the 2nd quarter worth approximately $190,000. Finally, Metis Global Partners LLC acquired a new position in MasterCraft Boat in the 3rd quarter valued at approximately $190,000. 97.64% of the stock is owned by institutional investors.

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.