MasterCraft Boat (NASDAQ:MCFT) Given “Buy” Rating at Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of MasterCraft Boat (NASDAQ:MCFT) in a research note published on Friday, Benzinga reports. They currently have a $22.00 price target on the stock.

MCFT has been the topic of a number of other research reports. B. Riley lowered their price objective on MasterCraft Boat from $22.00 to $19.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Truist Financial lowered their price target on MasterCraft Boat from $20.00 to $15.00 and set a hold rating on the stock in a report on Monday, July 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, MasterCraft Boat currently has an average rating of Hold and a consensus price target of $21.83.

MasterCraft Boat Stock Down 0.7 %

MCFT stock opened at $18.53 on Friday. The stock has a 50-day simple moving average of $19.50 and a two-hundred day simple moving average of $20.67. MasterCraft Boat has a twelve month low of $17.31 and a twelve month high of $24.05. The firm has a market capitalization of $314.66 million, a PE ratio of 8.35 and a beta of 1.63. The company has a quick ratio of 1.54, a current ratio of 2.02 and a debt-to-equity ratio of 0.23.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Thursday, August 29th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.21. MasterCraft Boat had a net margin of 8.26% and a return on equity of 21.71%. The company had revenue of $67.20 million during the quarter, compared to analysts’ expectations of $63.10 million. During the same quarter in the previous year, the company earned $1.33 earnings per share. MasterCraft Boat’s revenue for the quarter was down 59.7% on a year-over-year basis. On average, equities analysts predict that MasterCraft Boat will post 0.85 EPS for the current fiscal year.

Insider Activity at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L purchased 18,084 shares of the company’s stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $20.57 per share, with a total value of $371,987.88. Following the completion of the purchase, the insider now directly owns 3,073,973 shares in the company, valued at approximately $63,231,624.61. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 296,502 shares of company stock valued at $5,948,360 over the last 90 days. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MCFT. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of MasterCraft Boat in the 1st quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in MasterCraft Boat by 41.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,486 shares of the company’s stock worth $102,000 after purchasing an additional 1,306 shares during the last quarter. Squarepoint Ops LLC bought a new stake in MasterCraft Boat in the second quarter worth $190,000. CastleKnight Management LP purchased a new stake in MasterCraft Boat during the fourth quarter valued at about $263,000. Finally, Janus Henderson Group PLC grew its stake in shares of MasterCraft Boat by 40.5% during the first quarter. Janus Henderson Group PLC now owns 13,047 shares of the company’s stock valued at $310,000 after buying an additional 3,762 shares during 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.