B. Riley Boosts MasterCraft Boat (NASDAQ:MCFT) Price Target to $18.00

MasterCraft Boat (NASDAQ:MCFT) had its price objective hoisted by equities research analysts at B. Riley from $14.00 to $18.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley’s target price indicates a potential downside of 17.66% from the stock’s current price.

Several other analysts also recently issued reports on MCFT. DA Davidson lowered their price objective on shares of MasterCraft Boat from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. StockNews.com lowered shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. Truist Financial boosted 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, Stifel Nicolaus restated a “buy” rating and set a $22.00 target price on shares of MasterCraft Boat in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.60.

MasterCraft Boat Stock Down 3.5 %

Shares of NASDAQ:MCFT opened at $21.86 on Thursday. The stock has a 50-day simple moving average of $17.78 and a 200-day simple moving average of $19.21. The stock has a market capitalization of $363.09 million, a P/E ratio of -95.04 and a beta of 1.61. MasterCraft Boat has a 1 year low of $16.12 and a 1 year high of $24.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.42 and a current ratio of 1.99.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $65.40 million during the quarter, compared to analysts’ expectations of $61.19 million. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.42%. The firm’s revenue was down 37.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 EPS. Equities analysts forecast that MasterCraft Boat will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On MasterCraft Boat

Several large investors have recently modified their holdings of the stock. Isthmus Partners LLC raised its stake in MasterCraft Boat by 0.4% during the second 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. US Bancorp DE increased its holdings in shares of MasterCraft Boat by 64.0% in the 3rd 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 during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of MasterCraft Boat by 191.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,250 shares of the company’s stock valued at $98,000 after acquiring an additional 3,450 shares in the last quarter. SG Americas Securities LLC acquired a new position in MasterCraft Boat in the third quarter worth $126,000. Finally, Quest Partners LLC bought a new stake in MasterCraft Boat during the third quarter valued at $150,000. 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.