MasterCraft Boat (NASDAQ:MCFT) Price Target Cut to $22.00 by Analysts at DA Davidson

MasterCraft Boat (NASDAQ:MCFT) had its target price reduced by equities researchers at DA Davidson from $23.00 to $22.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s price objective would indicate a potential upside of 12.59% from the company’s current price.

Several other analysts have also recently weighed in on MCFT. StockNews.com raised MasterCraft Boat from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Truist Financial cut their target price on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 7th. Finally, B. Riley boosted their price target on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.50.

MasterCraft Boat Stock Performance

Shares of MasterCraft Boat stock traded down $0.21 during trading on Monday, reaching $19.54. The company’s stock had a trading volume of 25,839 shares, compared to its average volume of 71,043. MasterCraft Boat has a one year low of $16.12 and a one year high of $24.05. The firm has a market cap of $328.19 million, a price-to-earnings ratio of -48.65 and a beta of 1.67. The business’s fifty day moving average price is $19.02 and its 200-day moving average price is $18.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.49 and a current ratio of 2.01.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share for the quarter, topping 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 3.70%. As a group, equities research analysts predict that MasterCraft Boat will post 0.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L acquired 55,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was purchased at an average cost of $18.83 per share, with a total value of $1,035,650.00. Following the acquisition, the insider now directly owns 3,562,615 shares of the company’s stock, valued at approximately $67,084,040.45. The trade was a 1.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Trading of MasterCraft Boat

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Isthmus Partners LLC lifted its position in shares of MasterCraft Boat by 0.7% during the 4th quarter. Isthmus Partners LLC now owns 118,886 shares of the company’s stock worth $2,267,000 after buying an additional 773 shares during the last quarter. LHM Inc. bought a new stake in shares of MasterCraft Boat during the 4th quarter valued at approximately $1,636,000. Victory Capital Management Inc. boosted its holdings in shares of MasterCraft Boat by 2.0% during the 4th quarter. Victory Capital Management Inc. now owns 73,112 shares of the company’s stock valued at $1,394,000 after acquiring an additional 1,430 shares in the last quarter. Principal Financial Group Inc. grew its position in MasterCraft Boat by 9.4% during the 4th quarter. Principal Financial Group Inc. now owns 11,502 shares of the company’s stock worth $219,000 after acquiring an additional 993 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of MasterCraft Boat by 2.0% in the fourth quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock valued at $523,000 after buying an additional 528 shares during the period. 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 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.