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

MasterCraft Boat (NASDAQ:MCFT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

MCFT has been the subject of several other reports. DA Davidson upped their target price on MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 8th. B. Riley upped their price objective on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Truist Financial dropped their target price on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.75.

MasterCraft Boat Stock Up 1.5 %

NASDAQ MCFT opened at $18.25 on Tuesday. MasterCraft Boat has a 12 month low of $16.12 and a 12 month high of $24.05. The company has a market capitalization of $306.60 million, a P/E ratio of -79.35 and a beta of 1.67. The company’s 50 day simple moving average is $19.05 and its 200 day simple moving average is $18.98. 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 posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.09. The company had revenue of $65.40 million for the quarter, compared to analysts’ expectations of $61.19 million. MasterCraft Boat had a positive return on equity of 6.55% and a negative net margin of 1.08%. The firm’s revenue was down 37.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. Equities research analysts expect that MasterCraft Boat will post 0.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L purchased 53,853 shares of the stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $18.87 per share, for a total transaction of $1,016,206.11. Following the acquisition, the insider now directly owns 3,426,523 shares in the company, valued at approximately $64,658,489.01. The trade was a 1.60 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of MasterCraft Boat

Hedge funds and other institutional investors have recently modified their holdings of the company. Forager Capital Management LLC lifted its holdings in shares of MasterCraft Boat by 29.9% during the 3rd quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock valued at $30,915,000 after buying an additional 390,405 shares during the last quarter. Systematic Financial Management LP raised its position in MasterCraft Boat by 6.8% during the third quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after acquiring an additional 65,412 shares in the last quarter. Empowered Funds LLC lifted its stake in MasterCraft Boat by 2.1% in the third quarter. Empowered Funds LLC now owns 192,029 shares of the company’s stock valued at $3,497,000 after acquiring an additional 4,036 shares during the last quarter. Victory Capital Management Inc. grew its position in MasterCraft Boat by 5.2% in the third quarter. Victory Capital Management Inc. now owns 71,682 shares of the company’s stock worth $1,305,000 after acquiring an additional 3,568 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of 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 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.