MasterCraft Boat (NASDAQ:MCFT) PT Lowered to $30.00

MasterCraft Boat (NASDAQ:MCFT) had its price objective lowered by equities research analysts at Robert W. Baird from $40.00 to $30.00 in a research note issued on Thursday, Marketbeat reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 31.12% from the company’s current price.

Several other equities analysts also recently commented on the company. DA Davidson started coverage on MasterCraft Boat in a research report on Tuesday, May 30th. They issued a “neutral” rating and a $29.00 target price for the company. B. Riley downgraded MasterCraft Boat from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $37.00 to $23.00 in a research report on Thursday. Truist Financial restated a “hold” rating and set a $28.00 price objective on shares of MasterCraft Boat in a research report on Friday, July 14th. Finally, StockNews.com downgraded MasterCraft Boat from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 16th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

MasterCraft Boat Price Performance

Shares of MCFT stock opened at $22.88 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.81 and a debt-to-equity ratio of 0.29. MasterCraft Boat has a twelve month low of $18.49 and a twelve month high of $35.29. The company has a market cap of $400.29 million, a P/E ratio of 5.85 and a beta of 1.79. The business has a fifty day simple moving average of $28.01 and a 200 day simple moving average of $29.45.

Institutional Trading of MasterCraft Boat

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of MasterCraft Boat by 9.9% in the 2nd quarter. BlackRock Inc. now owns 1,558,057 shares of the company’s stock worth $47,754,000 after buying an additional 139,923 shares during the last quarter. Forager Capital Management LLC boosted its stake in MasterCraft Boat by 2.9% during the 2nd quarter. Forager Capital Management LLC now owns 1,238,904 shares of the company’s stock valued at $37,972,000 after purchasing an additional 35,000 shares during the last quarter. Divisar Capital Management LLC boosted its stake in MasterCraft Boat by 12.0% during the 1st quarter. Divisar Capital Management LLC now owns 1,213,023 shares of the company’s stock valued at $29,852,000 after purchasing an additional 130,333 shares during the last quarter. Capital World Investors purchased a new stake in MasterCraft Boat during the 2nd quarter valued at $19,893,000. Finally, Dimensional Fund Advisors LP boosted its stake in MasterCraft Boat by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 577,918 shares of the company’s stock valued at $17,713,000 after purchasing an additional 4,715 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.