B. Riley Upgrades MasterCraft Boat (NASDAQ:MCFT) to “Hold”

MasterCraft Boat (NASDAQ:MCFT) was upgraded by investment analysts at B. Riley to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. DA Davidson reduced their price target on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday. Truist Financial reduced their target price on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. Finally, StockNews.com raised MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.50.

MasterCraft Boat Price Performance

Shares of MasterCraft Boat stock opened at $19.06 on Wednesday. The firm has a market cap of $320.21 million, a PE ratio of -47.65 and a beta of 1.67. MasterCraft Boat has a twelve month low of $16.12 and a twelve month high of $24.05. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $18.90 and a 200 day moving average price of $18.96.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. MasterCraft Boat had a positive return on equity of 3.70% and a negative net margin of 2.29%. Sell-side analysts predict that MasterCraft Boat will post 0.56 earnings per share for the current fiscal year.

Insider Activity

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L acquired 55,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $18.83 per share, with a total value of $1,035,650.00. Following the transaction, the insider now owns 3,562,615 shares of the company’s stock, valued at $67,084,040.45. This trade represents a 1.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in shares of MasterCraft Boat by 2.0% during the fourth quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock worth $523,000 after acquiring an additional 528 shares during the period. JPMorgan Chase & Co. raised its position in shares of MasterCraft Boat by 7.5% during the 4th quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock worth $149,000 after acquiring an additional 544 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of MasterCraft Boat by 10.7% during 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 valued at $2,267,000 after buying an additional 773 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in MasterCraft Boat by 9.4% in the fourth quarter. Principal Financial Group Inc. now owns 11,502 shares of the company’s stock valued at $219,000 after acquiring an additional 993 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.