MasterCraft Boat (NASDAQ:MCFT) Price Target Cut to $22.00 by Analysts at B. Riley

MasterCraft Boat (NASDAQ:MCFT) had its price target decreased by B. Riley from $24.00 to $22.00 in a report published on Tuesday morning, Benzinga reports. B. Riley currently has a neutral rating on the stock.

Separately, Truist Financial upped their price objective on MasterCraft Boat from $20.00 to $22.00 and gave the company a hold rating in a report on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $24.67.

MasterCraft Boat Stock Down 2.0 %

MCFT stock opened at $21.06 on Tuesday. The company has a market cap of $358.65 million, a price-to-earnings ratio of 6.44 and a beta of 1.64. MasterCraft Boat has a twelve month low of $19.22 and a twelve month high of $31.70. The business has a 50 day moving average price of $22.05 and a two-hundred day moving average price of $21.60. The company has a quick ratio of 1.58, a current ratio of 2.11 and a debt-to-equity ratio of 0.24.

MasterCraft Boat (NASDAQ:MCFT) last issued its earnings results on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.20 by $0.17. MasterCraft Boat had a return on equity of 32.01% and a net margin of 10.66%. The company had revenue of $99.48 million during the quarter, compared to the consensus estimate of $95.53 million. During the same period in the previous year, the company posted $1.16 EPS. The firm’s revenue for the quarter was down 37.5% compared to the same quarter last year. Analysts anticipate that MasterCraft Boat will post 1.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L acquired 24,167 shares of MasterCraft Boat stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $20.72 per share, for a total transaction of $500,740.24. Following the transaction, the insider now directly owns 2,025,578 shares of the company’s stock, valued at approximately $41,969,976.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders acquired 214,095 shares of company stock valued at $4,646,393. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MasterCraft Boat

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in MasterCraft Boat by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 82,990 shares of the company’s stock valued at $2,042,000 after buying an additional 1,042 shares during the period. American Century Companies Inc. raised its holdings in MasterCraft Boat by 121.7% during the first quarter. American Century Companies Inc. now owns 37,043 shares of the company’s stock worth $912,000 after buying an additional 20,334 shares during the last quarter. Group One Trading L.P. boosted its stake in MasterCraft Boat by 55.9% during the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. MetLife Investment Management LLC raised its position in MasterCraft Boat by 67.7% in the 1st quarter. MetLife Investment Management LLC now owns 8,982 shares of the company’s stock valued at $221,000 after buying an additional 3,626 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of MasterCraft Boat by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 539,870 shares of the company’s stock valued at $13,287,000 after acquiring an additional 5,852 shares in the last quarter. Institutional investors and hedge funds 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.