MasterCraft Boat (NASDAQ:MCFT) Price Target Cut to $20.00 by Analysts at Truist Financial

MasterCraft Boat (NASDAQ:MCFT) had its target price decreased by Truist Financial from $22.00 to $20.00 in a report published on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other research analysts have also recently issued reports about the stock. B. Riley lifted their price target on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. StockNews.com raised shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Finally, DA Davidson increased their target price on MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Four equities 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 currently has an average rating of “Hold” and a consensus price target of $20.75.

MasterCraft Boat Trading Down 0.2 %

Shares of MCFT stock opened at $18.01 on Tuesday. The firm’s 50-day simple moving average is $19.91 and its 200-day simple moving average is $19.04. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49. MasterCraft Boat has a 1-year low of $16.12 and a 1-year high of $24.05. The firm has a market cap of $302.50 million, a P/E ratio of -78.30 and a beta of 1.67.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The company had revenue of $65.40 million for the quarter, compared to the consensus estimate of $61.19 million. During the same quarter last year, the firm posted $0.43 earnings per share. MasterCraft Boat’s revenue was down 37.2% on a year-over-year basis. As a group, equities analysts forecast that MasterCraft Boat will post 0.61 EPS for the current year.

Insider Buying and Selling at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L acquired 55,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $18.83 per share, for a total transaction of $1,035,650.00. Following the transaction, the insider now directly owns 3,562,615 shares in the company, valued at $67,084,040.45. This trade represents a 1.57 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MasterCraft Boat

Hedge funds have recently made changes to their positions in the business. US Bancorp DE raised its stake in MasterCraft Boat by 64.0% during the 3rd 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of MasterCraft Boat during the third quarter valued at about $126,000. Quest Partners LLC acquired a new stake in MasterCraft Boat in the third quarter worth about $150,000. Squarepoint Ops LLC bought a new position in MasterCraft Boat in the 2nd quarter valued at about $190,000. Finally, Metis Global Partners LLC acquired a new position in MasterCraft Boat during the 3rd quarter valued at about $190,000. 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.