MasterCraft Boat (NASDAQ:MCFT) Price Target Cut to $20.00 by Analysts at Truist Financial

MasterCraft Boat (NASDAQ:MCFT) had its price objective decreased by Truist Financial from $22.00 to $20.00 in a research note published on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research analysts also recently commented on MCFT. StockNews.com raised MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. DA Davidson upped their price objective on shares of MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, B. Riley boosted their target price on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.75.

MasterCraft Boat Stock Down 3.2 %

MasterCraft Boat stock opened at $18.04 on Tuesday. MasterCraft Boat has a 12 month low of $16.12 and a 12 month high of $24.05. The stock has a market capitalization of $303.00 million, a PE ratio of -78.43 and a beta of 1.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49. The business has a 50 day simple moving average of $19.90 and a 200-day simple moving average of $19.05.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data 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 business had revenue of $65.40 million for the quarter, compared to the consensus estimate of $61.19 million. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The company’s revenue was down 37.2% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. On average, analysts anticipate that MasterCraft Boat will post 0.61 EPS for the current fiscal year.

Insider Activity at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L acquired 55,000 shares of MasterCraft Boat stock in a transaction that occurred on Monday, December 30th. The shares were 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 represents a 1.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MasterCraft Boat

A number of institutional investors and hedge funds have recently made changes to their positions in MCFT. Koss Olinger Consulting LLC lifted its stake in MasterCraft Boat by 6.0% during the third 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 grew its stake in shares of MasterCraft Boat by 0.7% in the second quarter. Renaissance Technologies LLC now owns 214,400 shares of the company’s stock worth $4,048,000 after acquiring an additional 1,400 shares in the last quarter. US Bancorp DE raised its stake in shares of MasterCraft Boat by 64.0% in the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after acquiring an additional 2,000 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in MasterCraft Boat by 25.6% in the third quarter. Public Employees Retirement System of Ohio now owns 12,854 shares of the company’s stock valued at $234,000 after purchasing an additional 2,620 shares during the period. Finally, Victory Capital Management Inc. grew its stake in MasterCraft Boat by 5.2% during the 3rd quarter. Victory Capital Management Inc. now owns 71,682 shares of the company’s stock worth $1,305,000 after purchasing an additional 3,568 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

About MasterCraft Boat

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.