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

MasterCraft Boat (NASDAQ:MCFT) had its price target dropped by investment analysts at B. Riley from $22.00 to $19.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. B. Riley’s target price points to a potential upside of 8.45% from the company’s previous close.

MCFT has been the subject of a number of other reports. Truist Financial decreased their price objective on shares of MasterCraft Boat from $20.00 to $15.00 and set a “hold” rating for the company in a report on Monday. Stifel Nicolaus decreased their target price on shares of MasterCraft Boat from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.33.

MasterCraft Boat Stock Down 1.5 %

Shares of MCFT traded down $0.27 during mid-day trading on Wednesday, reaching $17.52. The company had a trading volume of 160,616 shares, compared to its average volume of 159,502. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.54 and a current ratio of 2.02. The firm has a 50-day moving average price of $19.94 and a 200 day moving average price of $21.07. MasterCraft Boat has a 52 week low of $17.31 and a 52 week high of $31.70. The company has a market capitalization of $297.49 million, a price-to-earnings ratio of 7.87 and a beta of 1.63.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. MasterCraft Boat had a return on equity of 21.71% and a net margin of 8.26%. The firm had revenue of $95.71 million for the quarter, compared to analysts’ expectations of $92.32 million. On average, sell-side analysts forecast that MasterCraft Boat will post 0.85 EPS for the current year.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L acquired 107,083 shares of the stock in a transaction dated Thursday, April 18th. The stock was acquired at an average cost of $20.81 per share, for a total transaction of $2,228,397.23. Following the completion of the purchase, the insider now owns 2,331,367 shares of the company’s stock, valued at approximately $48,515,747.27. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have acquired 839,630 shares of company stock worth $17,259,990. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in MasterCraft Boat by 11.2% in the fourth quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock valued at $13,360,000 after buying an additional 59,200 shares in the last quarter. Wasatch Advisors LP boosted its position in MasterCraft Boat by 34.2% during the first quarter. Wasatch Advisors LP now owns 381,471 shares of the company’s stock worth $9,048,000 after acquiring an additional 97,170 shares during the last quarter. American Century Companies Inc. boosted its position in MasterCraft Boat by 15.8% during the third quarter. American Century Companies Inc. now owns 258,634 shares of the company’s stock worth $5,747,000 after acquiring an additional 35,374 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in MasterCraft Boat by 0.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock worth $4,723,000 after acquiring an additional 617 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in MasterCraft Boat by 28.1% during the first quarter. Empowered Funds LLC now owns 183,617 shares of the company’s stock worth $4,355,000 after acquiring an additional 40,302 shares during 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.