Truist Financial Lowers MasterCraft Boat (NASDAQ:MCFT) Price Target to $16.00

MasterCraft Boat (NASDAQ:MCFT) had its target price dropped by equities research analysts at Truist Financial from $22.00 to $16.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price points to a potential upside of 5.47% from the company’s current price.

Several other brokerages have also weighed in on MCFT. Robert W. Baird restated a “neutral” rating and issued a $20.00 price target (down previously from $26.00) on shares of MasterCraft Boat in a research note on Friday, April 4th. B. Riley upgraded MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. DA Davidson decreased their target price on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. StockNews.com cut shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a research note on Tuesday, April 8th. Finally, Baird R W cut shares of MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.60.

MasterCraft Boat Trading Down 0.4 %

Shares of NASDAQ:MCFT opened at $15.17 on Monday. The company has a market capitalization of $254.14 million, a PE ratio of -37.92 and a beta of 1.34. MasterCraft Boat has a 12-month low of $14.39 and a 12-month high of $23.00. The business has a 50 day moving average of $17.42 and a two-hundred day moving average of $18.42.

MasterCraft Boat (NASDAQ:MCFT) last posted its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that MasterCraft Boat will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of MasterCraft Boat

Several large investors have recently made changes to their positions in MCFT. State of Wyoming acquired a new stake in MasterCraft Boat during the 4th quarter worth $108,000. Tower Research Capital LLC TRC lifted its stake in shares of MasterCraft Boat by 260.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company’s stock worth $118,000 after buying an additional 4,487 shares in the last quarter. SG Americas Securities LLC boosted its position in MasterCraft Boat by 10.7% during the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after acquiring an additional 742 shares during the last quarter. JPMorgan Chase & Co. grew its stake in MasterCraft Boat by 7.5% during the 4th quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock valued at $149,000 after acquiring an additional 544 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in MasterCraft Boat by 6,422.7% in the 1st quarter. GAMMA Investing LLC now owns 8,610 shares of the company’s stock valued at $148,000 after acquiring an additional 8,478 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

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.