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

MasterCraft Boat (NASDAQ:MCFT) had its price objective cut by B. Riley from $24.00 to $22.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Truist Financial upped their price target 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 stock. According to MarketBeat.com, MasterCraft Boat has a consensus rating of Hold and a consensus price target of $24.67.

MasterCraft Boat Stock Performance

Shares of MasterCraft Boat stock opened at $20.88 on Tuesday. MasterCraft Boat has a one year low of $19.22 and a one year high of $31.70. The company has a market cap of $355.59 million, a PE ratio of 6.39 and a beta of 1.64. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.58 and a current ratio of 2.11. The business has a 50-day simple moving average of $22.05 and a 200-day simple moving average of $21.59.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. The business had revenue of $99.48 million during the quarter, compared to the consensus estimate of $95.53 million. MasterCraft Boat had a return on equity of 32.01% and a net margin of 10.66%. The business’s revenue for the quarter was down 37.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share. On average, equities research analysts forecast that MasterCraft Boat will post 1.51 EPS for the current fiscal year.

Insider Buying and Selling at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L acquired 11,308 shares of MasterCraft Boat stock in a transaction on Wednesday, April 10th. The stock was bought at an average price of $21.63 per share, for a total transaction of $244,592.04. Following the completion of the purchase, the insider now owns 2,162,984 shares in the company, valued at $46,785,343.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders bought 214,095 shares of company stock worth $4,646,393. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On MasterCraft Boat

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in MasterCraft Boat by 1.5% in the first quarter. Rhumbline Advisers now owns 24,453 shares of the company’s stock valued at $744,000 after buying an additional 367 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in MasterCraft Boat by 44.7% in the fourth quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock valued at $37,000 after buying an additional 443 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of MasterCraft Boat by 143.8% during the first quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock worth $25,000 after purchasing an additional 489 shares during the last quarter. Group One Trading L.P. raised its stake in shares of MasterCraft Boat by 55.9% during the first quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of MasterCraft Boat by 0.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock worth $4,723,000 after purchasing an additional 617 shares during 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.