DA Davidson Cuts MasterCraft Boat (NASDAQ:MCFT) Price Target to $22.00

MasterCraft Boat (NASDAQ:MCFT) had its price objective lowered by DA Davidson from $23.00 to $22.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also commented on MCFT. StockNews.com upgraded shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Truist Financial dropped their price objective on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, January 7th. Finally, B. Riley upped their price objective on MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.50.

MasterCraft Boat Trading Down 1.4 %

Shares of MCFT stock opened at $18.96 on Monday. MasterCraft Boat has a 1 year low of $16.12 and a 1 year high of $24.05. The firm has a market capitalization of $318.53 million, a PE ratio of -47.40 and a beta of 1.67. The stock has a fifty day moving average of $18.93 and a two-hundred day moving average of $18.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.49 and a current ratio of 2.01.

MasterCraft Boat (NASDAQ:MCFT) last posted 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%. As a group, research analysts expect that MasterCraft Boat will post 0.56 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the transaction, the insider now directly 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.00% of the stock is currently owned by company insiders.

Institutional Trading of MasterCraft Boat

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE increased its position in shares of MasterCraft Boat by 64.0% in the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after acquiring an additional 2,000 shares in the last quarter. SG Americas Securities LLC acquired a new position in MasterCraft Boat in the 3rd quarter worth approximately $126,000. JPMorgan Chase & Co. grew its position in 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 purchasing an additional 544 shares in the last quarter. Quest Partners LLC acquired a new stake in MasterCraft Boat during the 3rd quarter valued at $150,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of MasterCraft Boat in the second quarter valued at $190,000. 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.