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

MasterCraft Boat (NASDAQ:MCFT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other research analysts have also issued reports on the stock. Truist Financial raised their target price on shares of MasterCraft Boat from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday. Robert W. Baird reissued a “neutral” rating and set a $20.00 price objective (down previously from $26.00) on shares of MasterCraft Boat in a research note on Friday, April 4th. B. Riley raised shares of MasterCraft Boat to a “hold” rating in a research note on Wednesday, February 12th. Raymond James reduced their price objective on shares of MasterCraft Boat from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Baird R W lowered shares of MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.00.

MasterCraft Boat Trading Down 2.1%

Shares of NASDAQ MCFT opened at $17.11 on Friday. The firm has a market capitalization of $286.64 million, a PE ratio of -42.77 and a beta of 1.12. MasterCraft Boat has a 1 year low of $14.39 and a 1 year high of $23.00. The firm’s 50-day moving average is $16.70 and its 200-day moving average is $18.32.

MasterCraft Boat (NASDAQ:MCFT) last issued its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.12. The company had revenue of $75.96 million for the quarter, compared to analyst estimates of $75.15 million. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. As a group, equities research analysts anticipate that MasterCraft Boat will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Fund L.P. Forager bought 4,658 shares of the company’s stock in a transaction on Tuesday, April 15th. The shares were purchased at an average cost of $15.09 per share, for a total transaction of $70,289.22. Following the acquisition, the insider now owns 1,702,353 shares of the company’s stock, valued at approximately $25,688,506.77. This represents a 0.27% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have purchased 77,420 shares of company stock worth $1,261,191. Company insiders own 4.00% of the company’s stock.

Institutional Trading of MasterCraft Boat

Several hedge funds have recently bought and sold shares of the stock. Coliseum Capital Management LLC raised its holdings in MasterCraft Boat by 5.6% during the 4th quarter. Coliseum Capital Management LLC now owns 3,562,615 shares of the company’s stock worth $67,939,000 after buying an additional 189,945 shares during the period. Systematic Financial Management LP lifted its position in shares of MasterCraft Boat by 4.2% in the fourth quarter. Systematic Financial Management LP now owns 1,071,424 shares of the company’s stock worth $20,432,000 after purchasing an additional 42,839 shares in the last quarter. Divisar Capital Management LLC lifted its position in shares of MasterCraft Boat by 29.9% in the fourth quarter. Divisar Capital Management LLC now owns 1,006,805 shares of the company’s stock worth $19,200,000 after purchasing an additional 231,908 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of MasterCraft Boat by 7.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 842,945 shares of the company’s stock worth $16,075,000 after purchasing an additional 57,729 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of MasterCraft Boat by 4.0% in the fourth quarter. American Century Companies Inc. now owns 445,259 shares of the company’s stock worth $8,491,000 after purchasing an additional 17,118 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.