MasterCraft Boat (NASDAQ:MCFT) Upgraded by B. Riley to Hold Rating

MasterCraft Boat (NASDAQ:MCFT) was upgraded by investment analysts at B. Riley to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. DA Davidson reduced their price target on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday. Truist Financial reduced their target price on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 7th. Finally, StockNews.com raised MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, MasterCraft Boat presently has an average rating of “Hold” and a consensus price target of $20.50.

MasterCraft Boat Stock Up 0.5 %

MCFT opened at $19.06 on Wednesday. MasterCraft Boat has a 52 week low of $16.12 and a 52 week high of $24.05. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $18.90 and a two-hundred day moving average price of $18.96. The company has a market cap of $320.21 million, a PE ratio of -47.65 and a beta of 1.67.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, research analysts anticipate that MasterCraft Boat will post 0.56 EPS for the current year.

Insider Buying and Selling at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L bought 53,853 shares of the stock in a transaction dated Thursday, December 26th. The stock was acquired at an average price of $18.87 per share, for a total transaction of $1,016,206.11. Following the completion of the purchase, the insider now owns 3,426,523 shares in the company, valued at $64,658,489.01. This represents a 1.60 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. US Bancorp DE boosted its holdings in 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 purchasing an additional 2,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in MasterCraft Boat during the 3rd quarter worth $126,000. JPMorgan Chase & Co. increased its position in shares of MasterCraft Boat by 7.5% in the 4th 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 acquired a new stake in shares of MasterCraft Boat in the 3rd quarter valued at about $150,000. Finally, Metis Global Partners LLC bought a new position in shares of MasterCraft Boat during the third quarter worth about $190,000. 97.64% of the stock is owned by institutional investors and hedge funds.

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.