MasterCraft Boat (NASDAQ:MCFT) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of MasterCraft Boat (NASDAQ:MCFT) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

MCFT has been the subject of a number of other research reports. DA Davidson decreased their price objective on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, February 10th. B. Riley upgraded shares of MasterCraft Boat to a “hold” rating in a report on Wednesday, February 12th. Finally, Truist Financial decreased their price objective on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, January 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 company has an average rating of “Hold” and a consensus price target of $20.50.

MasterCraft Boat Trading Up 1.1 %

MasterCraft Boat stock opened at $17.36 on Friday. The firm has a 50-day moving average price of $18.31 and a 200-day moving average price of $18.64. The firm has a market capitalization of $290.83 million, a PE ratio of -43.40 and a beta of 1.71. MasterCraft Boat has a 12-month low of $16.12 and a 12-month high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last released its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. As a group, sell-side analysts predict that MasterCraft Boat will post 0.62 earnings per share for the current fiscal year.

Insider Activity

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of MasterCraft Boat stock in a transaction dated Monday, December 30th. The stock was acquired at an average price 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 $67,084,040.45. This trade represents a 1.57 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

Several large investors have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in shares of MasterCraft Boat by 2.0% in the 4th quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock valued at $523,000 after purchasing an additional 528 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of MasterCraft Boat by 7.5% in the 4th quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock worth $149,000 after buying an additional 544 shares during the last quarter. SG Americas Securities LLC grew its position in shares of MasterCraft Boat by 10.7% in the 4th quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after buying an additional 742 shares during the last quarter. Isthmus Partners LLC grew its position in shares of MasterCraft Boat by 0.7% in the 4th quarter. Isthmus Partners LLC now owns 118,886 shares of the company’s stock worth $2,267,000 after buying an additional 773 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of MasterCraft Boat by 0.6% in the 4th quarter. Northern Trust Corp now owns 133,422 shares of the company’s stock worth $2,544,000 after buying an additional 791 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

MasterCraft Boat Company Profile

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.