MasterCraft Boat (NASDAQ:MCFT) Given New $20.00 Price Target at Truist Financial

MasterCraft Boat (NASDAQ:MCFT) had its target price reduced by research analysts at Truist Financial from $22.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 10.31% from the stock’s previous close.

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

MasterCraft Boat Trading Down 2.7 %

Shares of MCFT traded down $0.50 during mid-day trading on Tuesday, reaching $18.13. The stock had a trading volume of 10,140 shares, compared to its average volume of 52,031. MasterCraft Boat has a 52-week low of $16.12 and a 52-week high of $24.05. The firm has a market cap of $304.51 million, a price-to-earnings ratio of -78.83 and a beta of 1.67. The business’s fifty day moving average is $19.89 and its 200 day moving average is $19.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49.

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

Insider Transactions at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the completion of the purchase, the insider now directly owns 3,562,615 shares in the company, valued at approximately $67,084,040.45. The trade was a 1.57 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On MasterCraft Boat

Several hedge funds and other institutional investors have recently made changes to their positions in MCFT. Principal Financial Group Inc. purchased a new stake in shares of MasterCraft Boat during the third quarter worth approximately $191,000. Forager Capital Management LLC grew its holdings in MasterCraft Boat by 29.9% during the 3rd quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock worth $30,915,000 after acquiring an additional 390,405 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of MasterCraft Boat by 25.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,854 shares of the company’s stock valued at $234,000 after purchasing an additional 2,620 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of MasterCraft Boat by 6.8% in the 3rd quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after purchasing an additional 65,412 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of MasterCraft Boat during the 3rd quarter worth $150,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.