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

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

A number of other research analysts have also issued reports on the stock. Truist Financial reduced their target price on MasterCraft Boat from $22.00 to $16.00 and set a “hold” rating for the company in a report on Monday. Baird R W downgraded shares of MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. DA Davidson dropped their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, February 10th. B. Riley raised MasterCraft Boat to a “hold” rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price objective (down from $26.00) on shares of MasterCraft Boat in a research note on Friday, April 4th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MasterCraft Boat has an average rating of “Hold” and an average target price of $19.60.

MasterCraft Boat Trading Up 1.7 %

MCFT stock opened at $15.43 on Wednesday. The company’s 50 day moving average is $17.34 and its two-hundred day moving average is $18.40. MasterCraft Boat has a twelve month low of $14.39 and a twelve month high of $23.00. The stock has a market cap of $258.50 million, a P/E ratio of -38.57 and a beta of 1.34.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data 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 3.74%. On average, equities research analysts predict that MasterCraft Boat will post 0.62 earnings per share for the current year.

Hedge Funds Weigh In On MasterCraft Boat

Institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its stake in MasterCraft Boat by 32.0% during the 4th quarter. Franklin Resources Inc. now owns 254,193 shares of the company’s stock worth $4,847,000 after buying an additional 61,554 shares during the period. Principal Financial Group Inc. raised its position in shares of MasterCraft Boat by 9.4% during the 4th quarter. Principal Financial Group Inc. now owns 11,502 shares of the company’s stock worth $219,000 after purchasing an additional 993 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in MasterCraft Boat in the fourth quarter worth $448,000. LHM Inc. bought a new stake in MasterCraft Boat in the 4th quarter valued at about $1,636,000. Finally, American Century Companies Inc. boosted its stake in MasterCraft Boat by 4.0% during the 4th quarter. American Century Companies Inc. now owns 445,259 shares of the company’s stock valued at $8,491,000 after purchasing an additional 17,118 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.