MasterCraft Boat (NASDAQ:MCFT) Price Target Cut to $25.00 by Analysts at Raymond James

MasterCraft Boat (NASDAQ:MCFT) had its price target reduced by Raymond James from $40.00 to $25.00 in a report issued on Thursday, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

MCFT has been the subject of a number of other reports. Robert W. Baird reduced 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 note on Thursday. StockNews.com lowered shares of MasterCraft Boat from a strong-buy rating to a buy rating in a research note on Wednesday, August 16th. B. Riley lowered shares of MasterCraft Boat from a buy rating to a neutral rating and reduced their price objective for the company from $37.00 to $23.00 in a research note on Thursday. Truist Financial reiterated a hold rating and issued a $28.00 price objective on shares of MasterCraft Boat in a research note on Friday, July 14th. Finally, DA Davidson started coverage on shares of MasterCraft Boat in a research note on Tuesday, May 30th. They issued a neutral rating and a $29.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $27.17.

MasterCraft Boat Stock Performance

NASDAQ:MCFT opened at $21.76 on Thursday. The company has a current ratio of 1.81, a quick ratio of 1.27 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $380.80 million, a PE ratio of 6.72 and a beta of 1.79. The firm’s 50 day moving average is $28.16 and its 200 day moving average is $29.50. MasterCraft Boat has a 12 month low of $18.49 and a 12 month high of $35.29.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MCFT. Capital World Investors purchased a new position in MasterCraft Boat in the second quarter worth $19,893,000. Assenagon Asset Management S.A. grew its position in MasterCraft Boat by 495.4% in the first quarter. Assenagon Asset Management S.A. now owns 533,297 shares of the company’s stock worth $16,228,000 after acquiring an additional 443,723 shares in the last quarter. Acadian Asset Management LLC grew its position in MasterCraft Boat by 269.8% in the first quarter. Acadian Asset Management LLC now owns 323,744 shares of the company’s stock worth $9,849,000 after acquiring an additional 236,207 shares in the last quarter. BlackRock Inc. grew its position in MasterCraft Boat by 16.8% in the first quarter. BlackRock Inc. now owns 1,418,134 shares of the company’s stock worth $43,154,000 after acquiring an additional 203,490 shares in the last quarter. Finally, Divisar Capital Management LLC grew its position in MasterCraft Boat by 12.0% in the first quarter. Divisar Capital Management LLC now owns 1,213,023 shares of the company’s stock worth $29,852,000 after acquiring an additional 130,333 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

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.