Truist Financial Issues Pessimistic Forecast for MasterCraft Boat (NASDAQ:MCFT) Stock Price

MasterCraft Boat (NASDAQ:MCFT) had its target price dropped by equities researchers at Truist Financial from $22.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 11.05% from the stock’s previous close.

Other analysts have also issued reports about the company. DA Davidson boosted their target price on MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. StockNews.com raised shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Finally, B. Riley lifted their target price on shares of MasterCraft Boat from $14.00 to $18.00 and gave the stock 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 given a buy rating to the company. According to data from MarketBeat, MasterCraft Boat presently has an average rating of “Hold” and a consensus price target of $20.75.

MasterCraft Boat Trading Down 0.2 %

Shares of MasterCraft Boat stock opened at $18.01 on Tuesday. The stock has a fifty day moving average price of $19.91 and a 200-day moving average price of $19.04. 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 market cap of $302.50 million, a PE ratio of -78.30 and a beta of 1.67. MasterCraft Boat has a 1 year low of $16.12 and a 1 year high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The business had revenue of $65.40 million for the quarter, compared to analyst estimates of $61.19 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company’s revenue for the quarter was down 37.2% on a year-over-year basis. Equities research analysts anticipate that MasterCraft Boat will post 0.61 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L bought 55,000 shares of the stock in a transaction on Monday, December 30th. The shares were acquired at an average cost of $18.83 per share, for a total transaction of $1,035,650.00. Following the purchase, the insider now directly owns 3,562,615 shares of the company’s stock, valued at $67,084,040.45. This trade represents a 1.57 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MCFT. Renaissance Technologies LLC increased its stake in MasterCraft Boat by 0.7% in the 2nd 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 during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MasterCraft Boat by 13.1% during the second quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock worth $13,484,000 after purchasing an additional 82,509 shares in the last quarter. Systematic Financial Management LP increased 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 purchasing an additional 65,412 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in MasterCraft Boat in the third quarter valued at approximately $191,000. Finally, US Bancorp DE lifted its position in MasterCraft Boat by 64.0% during the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after purchasing an additional 2,000 shares during the last quarter. 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.