MasterCraft Boat (NASDAQ:MCFT) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of MasterCraft Boat (NASDAQ:MCFT) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

A number of other analysts also recently commented on the company. Truist Financial decreased their target price on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. B. Riley lifted their price target on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, DA Davidson lowered their price objective on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.50.

MasterCraft Boat Stock Performance

Shares of MCFT opened at $18.96 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.28. MasterCraft Boat has a 52-week low of $16.12 and a 52-week high of $24.05. The company has a 50-day simple moving average of $18.93 and a 200-day simple moving average of $18.96.

MasterCraft Boat (NASDAQ:MCFT) last issued its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.70%. On average, analysts predict that MasterCraft Boat will post 0.56 earnings per share for the current year.

Insider Transactions at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $18.83 per share, with a total value of $1,035,650.00. Following the purchase, the insider now directly owns 3,562,615 shares of the company’s stock, valued at approximately $67,084,040.45. This trade represents a 1.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On MasterCraft Boat

Several institutional investors and hedge funds have recently modified their holdings of MCFT. US Bancorp DE grew its stake in MasterCraft Boat by 64.0% in the 3rd quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after acquiring an additional 2,000 shares during the period. SG Americas Securities LLC purchased a new position in shares of MasterCraft Boat during the 3rd quarter worth $126,000. JPMorgan Chase & Co. boosted its holdings in shares of MasterCraft Boat by 7.5% during the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock worth $149,000 after purchasing an additional 544 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of MasterCraft Boat in the third quarter valued at $150,000. Finally, Metis Global Partners LLC acquired a new position in MasterCraft Boat in the third quarter valued at $190,000. 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.