MasterCraft Boat (NASDAQ:MCFT) Upgraded to “Hold” at B. Riley

B. Riley upgraded shares of MasterCraft Boat (NASDAQ:MCFT) to a hold rating in a research report report published on Wednesday,Zacks.com reports.

MCFT has been the subject of several other reports. Truist Financial reduced their target price on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. StockNews.com raised MasterCraft Boat from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, DA Davidson lowered their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, MasterCraft Boat has a consensus rating of “Hold” and an average price target of $20.50.

MasterCraft Boat Stock Performance

Shares of MasterCraft Boat stock opened at $19.06 on Wednesday. The firm has a market capitalization of $320.21 million, a P/E ratio of -47.65 and a beta of 1.67. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. MasterCraft Boat has a 52 week low of $16.12 and a 52 week high of $24.05. The firm’s 50 day moving average is $18.90 and its two-hundred day moving average is $18.96.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.05 EPS for the quarter, topping 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 3.70%. Research analysts forecast that MasterCraft Boat will post 0.56 EPS for the current fiscal year.

Insider Activity at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L acquired 53,853 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $18.87 per share, with a total value of $1,016,206.11. Following the purchase, the insider now owns 3,426,523 shares of the company’s stock, valued at $64,658,489.01. This represents a 1.60 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is currently owned by insiders.

Institutional Trading of MasterCraft Boat

Several hedge funds and other institutional investors have recently made changes to their positions in MCFT. US Bancorp DE raised its holdings in MasterCraft Boat by 64.0% during the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after purchasing an additional 2,000 shares in the last quarter. SG Americas Securities LLC acquired a new position in MasterCraft Boat during the 3rd quarter worth approximately $126,000. JPMorgan Chase & Co. raised its stake in shares of MasterCraft Boat by 7.5% during the 4th quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock worth $149,000 after buying an additional 544 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of MasterCraft Boat in the 3rd quarter valued at approximately $150,000. Finally, Metis Global Partners LLC purchased a new stake in shares of MasterCraft Boat in the third quarter valued at approximately $190,000. 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.