MasterCraft Boat (NASDAQ:MCFT) Stock Rating Upgraded by StockNews.com

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

Several other equities research analysts also recently issued reports on the company. Truist Financial lowered their price target on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. B. Riley raised their target price on MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, DA Davidson upped their price target on MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.75.

MasterCraft Boat Stock Up 1.5 %

Shares of MasterCraft Boat stock opened at $18.25 on Tuesday. MasterCraft Boat has a 12-month low of $16.12 and a 12-month high of $24.05. The stock has a market capitalization of $306.60 million, a P/E ratio of -79.35 and a beta of 1.67. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average price of $19.05 and a two-hundred day moving average price of $18.98.

MasterCraft Boat (NASDAQ:MCFT) last posted its earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The business had revenue of $65.40 million for the quarter, compared to analyst estimates of $61.19 million. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. MasterCraft Boat’s revenue was down 37.2% compared to the same quarter last year. During the same period last year, the business posted $0.43 EPS. Equities analysts expect that MasterCraft Boat will post 0.61 earnings per share for the current year.

Insider Buying and Selling

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the completion of the purchase, the insider now directly owns 3,562,615 shares of the company’s stock, valued at approximately $67,084,040.45. This represents a 1.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On MasterCraft Boat

A number of hedge funds have recently made changes to their positions in MCFT. Principal Financial Group Inc. increased its stake in MasterCraft Boat by 9.4% in the fourth quarter. Principal Financial Group Inc. now owns 11,502 shares of the company’s stock valued at $219,000 after acquiring an additional 993 shares during the period. Rhumbline Advisers boosted its holdings in MasterCraft Boat by 2.0% during the fourth quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock valued at $523,000 after purchasing an additional 528 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of MasterCraft Boat by 106.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,200 shares of the company’s stock valued at $233,000 after purchasing an additional 6,300 shares during the period. SG Americas Securities LLC raised its holdings in shares of MasterCraft Boat by 10.7% in the 4th quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after buying an additional 742 shares in the last quarter. Finally, Forager Capital Management LLC lifted its position in shares of MasterCraft Boat by 29.9% during the 3rd quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock worth $30,915,000 after buying an additional 390,405 shares during the period. Institutional investors and hedge funds 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.