MasterCraft Boat (NASDAQ:MCFT) Price Target Lowered to $22.00 at B. Riley

MasterCraft Boat (NASDAQ:MCFT) had its price target cut by equities research analysts at B. Riley from $24.00 to $22.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley’s price target indicates a potential upside of 4.71% from the company’s previous close.

Separately, Truist Financial increased their price target on shares of MasterCraft Boat from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.67.

MasterCraft Boat Price Performance

Shares of NASDAQ:MCFT traded down $0.49 during trading hours on Tuesday, hitting $21.01. 101,704 shares of the company’s stock traded hands, compared to its average volume of 119,583. MasterCraft Boat has a 52 week low of $19.22 and a 52 week high of $31.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.58 and a current ratio of 2.11. The company’s fifty day simple moving average is $22.03 and its two-hundred day simple moving average is $21.61. The company has a market cap of $357.80 million, a price-to-earnings ratio of 6.44 and a beta of 1.64.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.17. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The company had revenue of $99.48 million during the quarter, compared to analyst estimates of $95.53 million. During the same quarter last year, the firm posted $1.16 EPS. The business’s revenue for the quarter was down 37.5% on a year-over-year basis. As a group, equities analysts anticipate that MasterCraft Boat will post 1.51 EPS for the current fiscal year.

Insider Buying and Selling at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L purchased 24,167 shares of the stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $20.72 per share, for a total transaction of $500,740.24. Following the completion of the acquisition, the insider now directly owns 2,025,578 shares in the company, valued at approximately $41,969,976.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 214,095 shares of company stock worth $4,646,393 over the last 90 days. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its position in MasterCraft Boat by 143.8% in the first quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock worth $25,000 after purchasing an additional 489 shares during the period. Carmel Capital Partners LLC bought a new position in shares of MasterCraft Boat during the third quarter valued at $28,000. Group One Trading L.P. lifted its holdings in shares of MasterCraft Boat by 55.9% during the first quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of MasterCraft Boat by 44.7% during the fourth quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock valued at $37,000 after acquiring an additional 443 shares during the period. Finally, Quarry LP bought a new position in shares of MasterCraft Boat during the first quarter valued at $41,000. 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.