Truist Financial Cuts MasterCraft Boat (NASDAQ:MCFT) Price Target to $16.00

MasterCraft Boat (NASDAQ:MCFT) had its price target cut by Truist Financial from $22.00 to $16.00 in a research report report published on Monday,Benzinga reports. They currently have a hold rating on the stock.

MCFT has been the subject of a number of other research reports. Robert W. Baird reissued a “neutral” rating and issued a $20.00 price objective (down previously from $26.00) on shares of MasterCraft Boat in a research report on Friday, April 4th. B. Riley upgraded MasterCraft Boat to a “hold” rating in a report on Wednesday, February 12th. Baird R W cut MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. StockNews.com lowered MasterCraft Boat from a “hold” rating to a “sell” rating in a research note on Tuesday, April 8th. Finally, DA Davidson decreased their price target on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.60.

MasterCraft Boat Stock Up 1.7 %

NASDAQ:MCFT opened at $15.43 on Monday. The company has a market capitalization of $258.50 million, a PE ratio of -38.57 and a beta of 1.34. MasterCraft Boat has a 52-week low of $14.39 and a 52-week high of $23.00. The stock has a fifty day simple moving average of $17.34 and a 200-day simple moving average of $18.40.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.05 EPS for the quarter, beating 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%. As a group, equities analysts anticipate that MasterCraft Boat will post 0.62 earnings per share for the current year.

Institutional Investors Weigh In On MasterCraft Boat

A number of institutional investors have recently added to or reduced their stakes in MCFT. Public Employees Retirement System of Ohio grew its holdings in shares of MasterCraft Boat by 25.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,854 shares of the company’s stock worth $234,000 after purchasing an additional 2,620 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of MasterCraft Boat in the third quarter worth $191,000. SG Americas Securities LLC raised its stake in shares of MasterCraft Boat by 10.7% in the 4th quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock valued at $146,000 after acquiring an additional 742 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of MasterCraft Boat by 106.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,200 shares of the company’s stock valued at $233,000 after acquiring an additional 6,300 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in MasterCraft Boat by 2.0% during the 4th quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock worth $523,000 after purchasing an additional 528 shares during the period. 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.