StockNews.com Upgrades MasterCraft Boat (NASDAQ:MCFT) to “Hold”

MasterCraft Boat (NASDAQ:MCFT) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other analysts have also recently weighed in on MCFT. B. Riley raised MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Robert W. Baird reiterated a “neutral” rating and issued a $20.00 price objective (down from $26.00) on shares of MasterCraft Boat in a research report on Friday, April 4th. Baird R W downgraded shares of MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. DA Davidson lowered their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Finally, Truist Financial cut their price target on shares of MasterCraft Boat from $22.00 to $16.00 and set a “hold” rating for the company in a report on Monday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.60.

MasterCraft Boat Price Performance

Shares of MasterCraft Boat stock opened at $16.00 on Wednesday. The firm’s fifty day simple moving average is $17.27 and its 200-day simple moving average is $18.38. MasterCraft Boat has a 12 month low of $14.39 and a 12 month high of $23.00. The stock has a market capitalization of $268.05 million, a price-to-earnings ratio of -40.00 and a beta of 1.34.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. Analysts anticipate that MasterCraft Boat will post 0.62 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Fund L.P. Forager acquired 11,172 shares of the company’s stock in a transaction that occurred on Thursday, April 17th. The stock was purchased at an average cost of $15.82 per share, with a total value of $176,741.04. Following the purchase, the insider now directly owns 1,724,941 shares of the company’s stock, valued at approximately $27,288,566.62. This trade represents a 0.65 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 4.00% of the stock is owned by insiders.

Institutional Trading of MasterCraft Boat

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its stake in MasterCraft Boat by 25.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,854 shares of the company’s stock valued at $234,000 after acquiring an additional 2,620 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of MasterCraft Boat in the third quarter valued at about $191,000. SG Americas Securities LLC grew its position in shares of MasterCraft Boat by 10.7% in the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock valued at $146,000 after purchasing an additional 742 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of MasterCraft Boat by 106.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,200 shares of the company’s stock worth $233,000 after purchasing an additional 6,300 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of MasterCraft Boat by 2.0% during the 4th quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock worth $523,000 after purchasing an additional 528 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

About MasterCraft Boat

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.