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 published on Wednesday morning.

Other equities analysts also recently issued research reports about the stock. B. Riley upped their price objective on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Truist Financial decreased their target price on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, January 7th. Finally, DA Davidson cut their price target on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.50.

MasterCraft Boat Stock Performance

Shares of NASDAQ MCFT opened at $18.96 on Wednesday. The stock’s 50-day simple moving average is $18.93 and its 200-day simple moving average is $18.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49. MasterCraft Boat has a fifty-two week low of $16.12 and a fifty-two week high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share 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 3.70%. Equities research analysts forecast that MasterCraft Boat will post 0.56 EPS for the current year.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L bought 53,853 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $18.87 per share, with a total value of $1,016,206.11. Following the completion of the acquisition, the insider now owns 3,426,523 shares in the company, valued at approximately $64,658,489.01. This trade represents a 1.60 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

Hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its position in MasterCraft Boat by 64.0% during the 3rd quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after buying an additional 2,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of MasterCraft Boat during the third quarter worth about $126,000. JPMorgan Chase & Co. increased its stake in shares of MasterCraft Boat by 7.5% during the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock worth $149,000 after acquiring an additional 544 shares during the period. Quest Partners LLC purchased a new position in MasterCraft Boat during the third quarter worth about $150,000. Finally, Metis Global Partners LLC acquired a new stake in MasterCraft Boat in the third quarter valued at about $190,000. 97.64% of the stock is 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.