MasterCraft Boat (NASDAQ:MCFT) Price Target Lowered to $21.00 at Raymond James

MasterCraft Boat (NASDAQ:MCFT) had its price target decreased by research analysts at Raymond James from $24.00 to $21.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 22.74% from the stock’s previous close.

Several other equities analysts have also commented on MCFT. Truist Financial increased their price objective on shares of MasterCraft Boat from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Thursday. Baird R W downgraded shares of MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. DA Davidson dropped their price objective on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. B. Riley raised MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $20.00 price objective (down from $26.00) on shares of MasterCraft Boat in a report on Friday, April 4th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.00.

MasterCraft Boat Stock Down 2.1 %

NASDAQ MCFT opened at $17.11 on Thursday. The firm has a market cap of $286.64 million, a PE ratio of -42.77 and a beta of 1.12. MasterCraft Boat has a 52 week low of $14.39 and a 52 week high of $23.00. The company has a 50 day moving average price of $16.70 and a 200 day moving average price of $18.29.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.18 by $0.12. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. The firm had revenue of $75.96 million during the quarter, compared to analyst estimates of $75.15 million. During the same quarter in the prior year, the business posted $0.37 EPS. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. On average, equities research analysts anticipate that MasterCraft Boat will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Fund L.P. Forager purchased 4,658 shares of MasterCraft Boat stock in a transaction that occurred on Tuesday, April 15th. The stock was purchased at an average price of $15.09 per share, for a total transaction of $70,289.22. Following the transaction, the insider now directly owns 1,702,353 shares in the company, valued at approximately $25,688,506.77. This trade represents a 0.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have acquired 77,420 shares of company stock worth $1,261,191. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MasterCraft Boat

Several large investors have recently bought and sold shares of MCFT. Rhumbline Advisers boosted its stake in shares of MasterCraft Boat by 2.0% in the fourth quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock worth $523,000 after acquiring an additional 528 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in MasterCraft Boat by 7.5% during 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. SG Americas Securities LLC grew its holdings in shares of MasterCraft Boat by 10.7% during the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after buying an additional 742 shares in the last quarter. Isthmus Partners LLC raised its position in shares of MasterCraft Boat by 0.7% in the fourth quarter. Isthmus Partners LLC now owns 118,886 shares of the company’s stock valued at $2,267,000 after buying an additional 773 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its stake in shares of MasterCraft Boat by 1.9% in the first quarter. SummerHaven Investment Management LLC now owns 43,323 shares of the company’s stock worth $746,000 after buying an additional 790 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

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.