MasterCraft Boat (NASDAQ:MCFT) Given New $15.00 Price Target at Truist Financial

MasterCraft Boat (NASDAQ:MCFT) had its price objective decreased by Truist Financial from $20.00 to $15.00 in a report issued on Monday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research firms also recently issued reports on MCFT. Stifel Nicolaus dropped their price target on MasterCraft Boat from $27.00 to $25.00 and set a buy rating on the stock in a research note on Thursday, May 9th. B. Riley lowered their price target on MasterCraft Boat from $24.00 to $22.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, MasterCraft Boat presently has an average rating of Hold and a consensus price target of $22.33.

MasterCraft Boat Stock Up 6.7 %

NASDAQ:MCFT opened at $18.85 on Monday. MasterCraft Boat has a 12-month low of $17.31 and a 12-month high of $31.70. The company has a quick ratio of 1.54, a current ratio of 2.02 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $320.07 million, a P/E ratio of 8.49 and a beta of 1.63. The stock’s fifty day simple moving average is $19.87 and its 200-day simple moving average is $21.03.

MasterCraft Boat (NASDAQ:MCFT) last posted its earnings results on Wednesday, May 8th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. The firm had revenue of $95.71 million for the quarter, compared to analyst estimates of $92.32 million. MasterCraft Boat had a return on equity of 21.71% and a net margin of 8.26%. Equities research analysts expect that MasterCraft Boat will post 0.85 earnings per share for the current year.

Insider Activity at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L purchased 26,039 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average cost of $21.34 per share, for a total transaction of $555,672.26. Following the completion of the purchase, the insider now owns 2,357,406 shares in the company, valued at approximately $50,307,044.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders purchased 779,630 shares of company stock worth $15,949,590. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

Institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP boosted its stake in shares of MasterCraft Boat by 34.2% in the first quarter. Wasatch Advisors LP now owns 381,471 shares of the company’s stock valued at $9,048,000 after buying an additional 97,170 shares during the period. Wellington Management Group LLP boosted its stake in shares of MasterCraft Boat by 11.2% in the fourth quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock valued at $13,360,000 after buying an additional 59,200 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in MasterCraft Boat by 0.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock worth $4,723,000 after purchasing an additional 617 shares during the last quarter. Victory Capital Management Inc. lifted its stake in MasterCraft Boat by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 70,296 shares of the company’s stock worth $1,592,000 after purchasing an additional 1,441 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in MasterCraft Boat during the fourth quarter worth $393,000. 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.