MasterCraft Boat (NASDAQ:MCFT) Upgraded at StockNews.com

MasterCraft Boat (NASDAQ:MCFT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

MCFT has been the topic of several other reports. Truist Financial boosted their target price on MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. DA Davidson upped their price objective on MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $22.00 price target on shares of MasterCraft Boat in a report on Friday, August 30th. Finally, B. Riley raised their price target on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.25.

MasterCraft Boat Trading Down 1.8 %

MCFT traded down $0.34 during midday trading on Thursday, reaching $18.55. 61,826 shares of the company’s stock traded hands, compared to its average volume of 151,265. MasterCraft Boat has a 52 week low of $16.12 and a 52 week high of $24.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49. The firm has a fifty day moving average of $19.47 and a two-hundred day moving average of $19.22. The stock has a market capitalization of $311.57 million, a price-to-earnings ratio of -80.65 and a beta of 1.64.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The company had revenue of $65.40 million during the quarter, compared to the consensus estimate of $61.19 million. During the same period in the prior year, the firm earned $0.43 earnings per share. MasterCraft Boat’s revenue was down 37.2% on a year-over-year basis. On average, equities analysts anticipate that MasterCraft Boat will post 0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in MasterCraft Boat by 18.1% during the 2nd quarter. Rhumbline Advisers now owns 27,994 shares of the company’s stock worth $529,000 after acquiring an additional 4,298 shares during the period. Isthmus Partners LLC increased its stake in shares of MasterCraft Boat by 0.4% in the second quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock worth $28,000 after purchasing an additional 532 shares in the last quarter. Koss Olinger Consulting LLC bought a new stake in shares of MasterCraft Boat during the 2nd quarter valued at $417,000. American Century Companies Inc. lifted its stake in shares of MasterCraft Boat by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 395,570 shares of the company’s stock valued at $7,468,000 after buying an additional 51,016 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in MasterCraft Boat by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock worth $13,484,000 after buying an additional 82,509 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.