MasterCraft Boat (NASDAQ:MCFT) Price Target Lowered to $20.00 at Truist Financial

MasterCraft Boat (NASDAQ:MCFT) had its target price dropped by Truist Financial from $22.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target would indicate a potential upside of 10.31% from the stock’s previous close.

MCFT has been the topic of several other reports. DA Davidson boosted their target price on MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. B. Riley upped their price objective on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, MasterCraft Boat presently has an average rating of “Hold” and a consensus price target of $20.75.

MasterCraft Boat Stock Down 2.7 %

MCFT traded down $0.50 on Tuesday, hitting $18.13. The company had a trading volume of 10,140 shares, compared to its average volume of 52,031. The stock has a market capitalization of $304.51 million, a price-to-earnings ratio of -78.83 and a beta of 1.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.49 and a current ratio of 2.01. The stock has a fifty day moving average price of $19.89 and a 200-day moving average price of $19.06. MasterCraft Boat has a 12-month low of $16.12 and a 12-month high of $24.05.

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

Insider Buying and Selling at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the completion of the transaction, the insider now owns 3,562,615 shares in the company, valued at $67,084,040.45. This represents a 1.57 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On MasterCraft Boat

Hedge funds have recently bought and sold shares of the business. US Bancorp DE increased 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 worth $93,000 after buying an additional 2,000 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of MasterCraft Boat in the third quarter worth about $126,000. Quest Partners LLC purchased a new stake in MasterCraft Boat during the 3rd quarter valued at about $150,000. Squarepoint Ops LLC purchased a new stake in MasterCraft Boat during the 2nd quarter valued at about $190,000. Finally, Metis Global Partners LLC purchased a new position in MasterCraft Boat in the 3rd quarter worth approximately $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.