MasterCraft Boat (NASDAQ:MCFT) Upgraded at StockNews.com

MasterCraft Boat (NASDAQ:MCFT) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages have also recently issued reports on MCFT. DA Davidson cut their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday. Truist Financial cut their price target on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. Finally, 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. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, MasterCraft Boat presently has an average rating of “Hold” and an average price target of $20.50.

MasterCraft Boat Trading Up 0.5 %

Shares of MasterCraft Boat stock opened at $19.06 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The firm has a market cap of $320.21 million, a price-to-earnings ratio of -47.65 and a beta of 1.67. MasterCraft Boat has a 52-week low of $16.12 and a 52-week high of $24.05. The company’s 50-day simple moving average is $18.90 and its 200-day simple moving average is $18.96.

MasterCraft Boat (NASDAQ:MCFT) last released its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. MasterCraft Boat had a positive return on equity of 3.70% and a negative net margin of 2.29%. As a group, equities research analysts anticipate that MasterCraft Boat will post 0.56 earnings per share for the current year.

Insider Activity at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $18.83 per share, for a total transaction of $1,035,650.00. Following the acquisition, the insider now owns 3,562,615 shares in the company, valued at approximately $67,084,040.45. This trade represents a 1.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MasterCraft Boat

Several institutional investors and hedge funds have recently modified their holdings of the stock. Forager Capital Management LLC raised 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 period. Systematic Financial Management LP grew its position in MasterCraft Boat by 6.8% in 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. American Century Companies Inc. raised its stake in shares of MasterCraft Boat by 4.0% during the fourth quarter. American Century Companies Inc. now owns 445,259 shares of the company’s stock valued at $8,491,000 after purchasing an additional 17,118 shares during the period. Franklin Resources Inc. lifted its position in shares of MasterCraft Boat by 32.0% during the fourth quarter. Franklin Resources Inc. now owns 254,193 shares of the company’s stock worth $4,847,000 after purchasing an additional 61,554 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of 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 purchasing an additional 4,036 shares during the period. 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.