MasterCraft Boat’s (MCFT) Hold Rating Reiterated at Truist Financial

Truist Financial reaffirmed their hold rating on shares of MasterCraft Boat (NASDAQ:MCFT) in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a $15.00 price objective on the stock.

Other research analysts have also recently issued reports about the company. B. Riley cut their price target on MasterCraft Boat from $22.00 to $19.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Stifel Nicolaus reaffirmed a buy rating and issued a $22.00 target price on shares of MasterCraft Boat in a research note on Friday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MasterCraft Boat currently has an average rating of Hold and a consensus target price of $19.75.

MasterCraft Boat Price Performance

NASDAQ:MCFT opened at $18.53 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.02 and a debt-to-equity ratio of 0.23. The firm has a market cap of $314.64 million, a PE ratio of 8.35 and a beta of 1.63. MasterCraft Boat has a 12 month low of $17.31 and a 12 month high of $24.05. The company’s 50-day moving average price is $19.50 and its two-hundred day moving average price is $20.66.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, August 29th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.18. MasterCraft Boat had a return on equity of 9.31% and a net margin of 2.13%. The business had revenue of $67.20 million for the quarter, compared to the consensus estimate of $63.10 million. During the same period in the previous year, the business earned $1.33 EPS. MasterCraft Boat’s revenue was down 59.7% compared to the same quarter last year. On average, equities analysts anticipate that MasterCraft Boat will post 1.23 EPS for the current fiscal year.

Insider Activity at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L acquired 38,462 shares of the company’s stock in a transaction on Monday, June 24th. The stock was purchased at an average cost of $19.58 per share, with a total value of $753,085.96. Following the acquisition, the insider now owns 3,372,670 shares of the company’s stock, valued at approximately $66,036,878.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have bought a total of 296,502 shares of company stock worth $5,948,360 over the last 90 days. Insiders own 2.50% of the company’s stock.

Institutional Trading of MasterCraft Boat

A number of institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP boosted its position in shares of MasterCraft Boat by 34.2% in the 1st quarter. Wasatch Advisors LP now owns 381,471 shares of the company’s stock worth $9,048,000 after purchasing an additional 97,170 shares during the last quarter. Wellington Management Group LLP boosted its holdings in MasterCraft Boat by 11.2% during the fourth quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock worth $13,360,000 after buying an additional 59,200 shares during the last quarter. Comerica Bank increased its stake in shares of MasterCraft Boat by 27,130.8% in the 1st quarter. Comerica Bank now owns 56,640 shares of the company’s stock valued at $1,343,000 after acquiring an additional 56,432 shares during the last quarter. Empowered Funds LLC raised its position in shares of MasterCraft Boat by 28.1% in the 1st quarter. Empowered Funds LLC now owns 183,617 shares of the company’s stock valued at $4,355,000 after acquiring an additional 40,302 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in MasterCraft Boat by 2.1% during the 4th quarter. Victory Capital Management Inc. now owns 70,296 shares of the company’s stock worth $1,592,000 after acquiring an additional 1,441 shares during the last quarter. Institutional investors and hedge funds 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.