MasterCraft Boat (NASDAQ:MCFT) Share Price Passes Below 50 Day Moving Average – What’s Next?

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) shares crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $19.95 and traded as low as $18.21. MasterCraft Boat shares last traded at $18.38, with a volume of 41,963 shares.

Analysts Set New Price Targets

A number of brokerages have commented on MCFT. StockNews.com raised MasterCraft Boat from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. B. Riley boosted their price objective on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Truist Financial decreased their price objective 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, DA Davidson boosted their price objective on MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.75.

MasterCraft Boat Trading Down 0.5 %

The company has a market capitalization of $308.45 million, a P/E ratio of -79.83 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 firm has a fifty day moving average price of $19.72 and a 200-day moving average price of $19.00.

MasterCraft Boat (NASDAQ:MCFT) last released its earnings results 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 company had revenue of $65.40 million during the quarter, compared to analyst estimates of $61.19 million. MasterCraft Boat had a positive return on equity of 6.55% and a negative net margin of 1.08%. MasterCraft Boat’s quarterly revenue was down 37.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. On average, equities research analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.61 earnings per share for the current year.

Insider Buying and Selling at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L bought 55,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the completion of the transaction, the insider now directly owns 3,562,615 shares in the company, valued at approximately $67,084,040.45. The trade was a 1.57 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MasterCraft Boat

Several institutional investors have recently made changes to their positions in the stock. Forager Capital Management LLC lifted its position in shares of MasterCraft Boat by 29.9% during the third quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock worth $30,915,000 after acquiring an additional 390,405 shares in the last quarter. Systematic Financial Management LP raised its position in shares of MasterCraft Boat by 6.8% in the third quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock worth $18,731,000 after buying an additional 65,412 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of MasterCraft Boat by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock worth $13,484,000 after buying an additional 82,509 shares in the last quarter. American Century Companies Inc. raised its position in shares of MasterCraft Boat by 14.8% in the second quarter. American Century Companies Inc. now owns 395,570 shares of the company’s stock worth $7,468,000 after buying an additional 51,016 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position 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 buying an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.