MasterCraft Boat (NASDAQ:MCFT) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of MasterCraft Boat (NASDAQ:MCFT) from a sell rating to a hold rating in a report issued on Saturday.

Other analysts have also issued research reports about the stock. Baird R W lowered 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 research note on Monday, February 10th. Raymond James dropped their price objective on shares of MasterCraft Boat from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. Truist Financial lifted their price objective on shares of MasterCraft Boat from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. Finally, B. Riley raised shares of MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.00.

MasterCraft Boat Stock Performance

NASDAQ MCFT opened at $17.76 on Friday. MasterCraft Boat has a one year low of $14.39 and a one year high of $23.00. The company’s 50 day moving average price is $16.72 and its 200 day moving average price is $18.33. The firm has a market capitalization of $294.90 million, a price-to-earnings ratio of -44.40 and a beta of 1.12.

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

Insider Transactions at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Fund L.P. Forager acquired 11,172 shares of the firm’s stock in a transaction on Thursday, April 17th. The stock was purchased at an average price of $15.82 per share, with a total value of $176,741.04. Following the completion of the acquisition, the insider now directly owns 1,724,941 shares in the company, valued at $27,288,566.62. This trade represents a 0.65% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 77,420 shares of company stock valued at $1,261,191. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MasterCraft Boat

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Coliseum Capital Management LLC raised its stake in shares of MasterCraft Boat by 5.6% during the fourth quarter. Coliseum Capital Management LLC now owns 3,562,615 shares of the company’s stock valued at $67,939,000 after purchasing an additional 189,945 shares in the last quarter. Systematic Financial Management LP raised its stake in shares of MasterCraft Boat by 4.2% during the fourth quarter. Systematic Financial Management LP now owns 1,071,424 shares of the company’s stock valued at $20,432,000 after purchasing an additional 42,839 shares in the last quarter. Divisar Capital Management LLC raised its stake in shares of MasterCraft Boat by 29.9% during the fourth quarter. Divisar Capital Management LLC now owns 1,006,805 shares of the company’s stock valued at $19,200,000 after purchasing an additional 231,908 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MasterCraft Boat by 7.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 842,945 shares of the company’s stock valued at $16,075,000 after purchasing an additional 57,729 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of MasterCraft Boat by 4.0% during the fourth 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 in the last quarter. 97.64% of the stock is currently owned by institutional investors.

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.