MasterCraft Boat (NASDAQ:MCFT) Stock Price Expected to Rise, B. Riley Analyst Says

MasterCraft Boat (NASDAQ:MCFT) had its target price upped by equities research analysts at B. Riley from $14.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. B. Riley’s target price points to a potential downside of 20.25% from the company’s current price.

Several other research firms also recently commented on MCFT. StockNews.com downgraded shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $22.00 price objective on shares of MasterCraft Boat in a report on Friday, August 30th. Truist Financial upped their price objective on shares of MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday. Finally, DA Davidson decreased their price objective on shares of MasterCraft Boat from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.40.

MasterCraft Boat Stock Up 2.5 %

Shares of NASDAQ MCFT traded up $0.54 during trading hours on Thursday, hitting $22.57. The stock had a trading volume of 205,200 shares, compared to its average volume of 159,576. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.42 and a current ratio of 1.99. The company has a market capitalization of $374.89 million, a P/E ratio of 51.30 and a beta of 1.61. 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 price is $17.63 and its two-hundred day moving average price is $19.18.

MasterCraft Boat (NASDAQ:MCFT) last posted its earnings results on Thursday, August 29th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.18. The company had revenue of $67.20 million during the quarter, compared to the consensus estimate of $63.10 million. MasterCraft Boat had a net margin of 2.13% and a return on equity of 9.44%. The company’s revenue for the quarter was down 59.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.33 earnings per share. Analysts anticipate that MasterCraft Boat will post 0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On MasterCraft Boat

Large investors have recently bought and sold shares of the stock. Isthmus Partners LLC raised its stake in shares of MasterCraft Boat by 0.4% in the 2nd quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock valued at $28,000 after buying an additional 532 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of MasterCraft Boat by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,998 shares of the company’s stock worth $380,000 after purchasing an additional 857 shares in the last quarter. Koss Olinger Consulting LLC increased its position in shares of MasterCraft Boat by 6.0% during the 3rd quarter. Koss Olinger Consulting LLC now owns 23,431 shares of the company’s stock worth $427,000 after purchasing an additional 1,320 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of MasterCraft Boat by 0.7% during the 2nd quarter. Renaissance Technologies LLC now owns 214,400 shares of the company’s stock worth $4,048,000 after purchasing an additional 1,400 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of MasterCraft Boat by 64.0% during the 3rd 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. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.