MasterCraft Boat (NASDAQ:MCFT) Price Target Cut to $22.00

MasterCraft Boat (NASDAQ:MCFT) had its price target trimmed by B. Riley from $24.00 to $22.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Truist Financial lifted their price target on MasterCraft Boat from $20.00 to $22.00 and gave the company a hold rating in a research report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $24.67.

MasterCraft Boat Stock Down 2.0 %

Shares of MasterCraft Boat stock opened at $21.06 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.58 and a debt-to-equity ratio of 0.24. MasterCraft Boat has a 12-month low of $19.22 and a 12-month high of $31.70. The company has a market cap of $358.65 million, a P/E ratio of 6.44 and a beta of 1.64. The company’s fifty day simple moving average is $22.05 and its two-hundred day simple moving average is $21.60.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.17. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The company had revenue of $99.48 million for the quarter, compared to analysts’ expectations of $95.53 million. During the same quarter in the previous year, the company earned $1.16 earnings per share. MasterCraft Boat’s quarterly revenue was down 37.5% on a year-over-year basis. Research analysts anticipate that MasterCraft Boat will post 1.51 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L purchased 60,000 shares of MasterCraft Boat stock in a transaction dated Friday, April 12th. The stock was purchased at an average cost of $21.84 per share, for a total transaction of $1,310,400.00. Following the completion of the acquisition, the insider now directly owns 2,224,284 shares of the company’s stock, valued at $48,578,362.56. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have purchased 214,095 shares of company stock valued at $4,646,393. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of MasterCraft Boat

Institutional investors have recently bought and sold shares of the company. Jupiter Asset Management Ltd. purchased a new stake in shares of MasterCraft Boat during the third quarter valued at approximately $893,000. Wellington Management Group LLP lifted its position in MasterCraft Boat by 73.5% in the 3rd quarter. Wellington Management Group LLP now owns 530,900 shares of the company’s stock valued at $11,797,000 after acquiring an additional 224,900 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in MasterCraft Boat by 0.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock valued at $4,723,000 after purchasing an additional 617 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of MasterCraft Boat by 29.6% in the 3rd quarter. AQR Capital Management LLC now owns 412,977 shares of the company’s stock worth $9,176,000 after purchasing an additional 94,420 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of MasterCraft Boat by 15.8% in the 3rd quarter. American Century Companies Inc. now owns 258,634 shares of the company’s stock worth $5,747,000 after purchasing an additional 35,374 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

MasterCraft Boat Company Profile

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.