MasterCraft Boat (NASDAQ:MCFT) Given New $23.00 Price Target at Truist Financial

MasterCraft Boat (NASDAQ:MCFT) had its price objective reduced by Truist Financial from $28.00 to $23.00 in a research report report published on Thursday, FlyOnTheWall reports.

MCFT has been the subject of a number of other research reports. B. Riley downgraded shares of MasterCraft Boat from a buy rating to a neutral rating and cut their price objective for the company from $37.00 to $23.00 in a research report on Thursday. StockNews.com downgraded shares of MasterCraft Boat from a strong-buy rating to a buy rating in a research report on Wednesday, August 16th. Robert W. Baird cut their price objective on shares of MasterCraft Boat from $40.00 to $30.00 and set an outperform rating for the company in a research report on Thursday. DA Davidson began coverage on shares of MasterCraft Boat in a research report on Tuesday, May 30th. They set a neutral rating and a $29.00 price objective for the company. Finally, Stifel Nicolaus dropped their target price on shares of MasterCraft Boat from $40.00 to $33.00 and set a buy rating for the company in a report on Thursday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, MasterCraft Boat presently has an average rating of Moderate Buy and an average target price of $27.17.

MasterCraft Boat Stock Performance

Shares of MCFT stock opened at $21.76 on Thursday. MasterCraft Boat has a 1 year low of $18.49 and a 1 year high of $35.29. The firm has a fifty day moving average price of $28.16 and a 200-day moving average price of $29.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.81 and a quick ratio of 1.27. The company has a market cap of $380.80 million, a price-to-earnings ratio of 6.72 and a beta of 1.79.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System lifted its stake in MasterCraft Boat by 216.3% in the 2nd quarter. California State Teachers Retirement System now owns 20,691 shares of the company’s stock worth $634,000 after purchasing an additional 14,149 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new stake in MasterCraft Boat in the 2nd quarter worth $52,000. Alliancebernstein L.P. lifted its stake in MasterCraft Boat by 3.7% in the 2nd quarter. Alliancebernstein L.P. now owns 54,215 shares of the company’s stock worth $1,662,000 after purchasing an additional 1,930 shares in the last quarter. Wells Fargo & Company MN lifted its stake in MasterCraft Boat by 367.7% in the 2nd quarter. Wells Fargo & Company MN now owns 55,395 shares of the company’s stock worth $1,698,000 after purchasing an additional 43,550 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in MasterCraft Boat by 67.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 101,538 shares of the company’s stock worth $3,112,000 after purchasing an additional 40,947 shares in the last quarter. Institutional investors 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 four segments: MasterCraft, Crest, NauticStar, and Aviara. The MasterCraft segment produces recreational performance sport boats, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.