MasterCraft Boat (NASDAQ:MCFT) Raised to Hold at B. Riley

MasterCraft Boat (NASDAQ:MCFT) was upgraded by analysts at B. Riley to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Truist Financial cut their target price on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, January 7th. DA Davidson cut their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday. Finally, StockNews.com upgraded shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.50.

MasterCraft Boat Stock Up 0.5 %

Shares of NASDAQ MCFT opened at $19.06 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. MasterCraft Boat has a 52 week low of $16.12 and a 52 week high of $24.05. The firm has a 50-day moving average price of $18.90 and a 200 day moving average price of $18.96. The stock has a market capitalization of $320.21 million, a price-to-earnings ratio of -47.65 and a beta of 1.67.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) 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%. Equities research analysts anticipate that MasterCraft Boat will post 0.56 EPS for the current fiscal year.

Insider Transactions at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L bought 55,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $18.83 per share, for a total transaction of $1,035,650.00. Following the completion of the acquisition, the insider now owns 3,562,615 shares in the company, valued at $67,084,040.45. This trade represents a 1.57 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. purchased a new stake in MasterCraft Boat in the third quarter valued at approximately $191,000. Systematic Financial Management LP grew its holdings in MasterCraft Boat by 6.8% in the third quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after purchasing an additional 65,412 shares during the period. US Bancorp DE grew its holdings in MasterCraft Boat by 64.0% in the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after purchasing an additional 2,000 shares during the period. Forager Capital Management LLC grew its holdings in MasterCraft Boat by 29.9% in the third quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock valued at $30,915,000 after purchasing an additional 390,405 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in MasterCraft Boat by 5.2% in the third quarter. Victory Capital Management Inc. now owns 71,682 shares of the company’s stock valued at $1,305,000 after purchasing an additional 3,568 shares during the period. 97.64% of the stock is currently 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.