MasterCraft Boat (NASDAQ:MCFT) Given New $30.00 Price Target at Robert W. Baird

MasterCraft Boat (NASDAQ:MCFT) had its price objective reduced by Robert W. Baird from $40.00 to $30.00 in a report published on Thursday, MarketBeat.com reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also issued reports on the company. DA Davidson started coverage on MasterCraft Boat in a report on Tuesday, May 30th. They set a neutral rating and a $29.00 price target for the company. Truist Financial reissued a hold rating and issued a $28.00 price objective on shares of MasterCraft Boat in a research note on Friday, July 14th. B. Riley downgraded 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 note on Thursday. Finally, StockNews.com downgraded MasterCraft Boat from a strong-buy rating to a buy rating in a research note on Wednesday, August 16th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $27.17.

MasterCraft Boat Price Performance

Shares of MasterCraft Boat stock opened at $21.76 on Thursday. The firm has a market cap of $380.80 million, a price-to-earnings ratio of 6.72 and a beta of 1.79. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.81 and a quick ratio of 1.27. MasterCraft Boat has a 52-week low of $18.49 and a 52-week high of $35.29. The stock has a 50-day simple moving average of $28.16 and a 200-day simple moving average of $29.50.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in MasterCraft Boat by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 82,990 shares of the company’s stock worth $2,042,000 after buying an additional 1,042 shares during the period. American Century Companies Inc. increased its position in MasterCraft Boat by 121.7% in the 1st quarter. American Century Companies Inc. now owns 37,043 shares of the company’s stock worth $912,000 after buying an additional 20,334 shares during the period. Group One Trading L.P. increased its position in MasterCraft Boat by 55.9% in the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the period. MetLife Investment Management LLC increased its position in MasterCraft Boat by 67.7% in the 1st quarter. MetLife Investment Management LLC now owns 8,982 shares of the company’s stock worth $221,000 after buying an additional 3,626 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in MasterCraft Boat by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 539,870 shares of the company’s stock worth $13,287,000 after buying an additional 5,852 shares during the period. 97.64% of the stock is owned by institutional investors.

MasterCraft Boat Company Profile

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.