Mastercraft Boat’s (MCFT) Neutral Rating Reiterated at B. Riley Financial

B. Riley Financial reissued their neutral rating on shares of Mastercraft Boat (NASDAQ:MCFT) in a research report released on Wednesday,Benzinga reports. B. Riley Financial currently has a $22.00 price target on the stock, down from their prior price target of $25.00.

Other analysts have also issued research reports about the stock. Zacks Research lowered shares of Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. B Riley reissued a “neutral” rating on shares of Mastercraft Boat in a research report on Tuesday. Robert W. Baird dropped their price target on shares of Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, September 11th. Truist Financial upped their price target on shares of Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings downgraded shares of Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, September 11th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $24.25.

Mastercraft Boat Price Performance

Shares of NASDAQ MCFT opened at $19.82 on Wednesday. Mastercraft Boat has a 1-year low of $17.19 and a 1-year high of $28.44. The business has a 50-day moving average of $23.78 and a 200-day moving average of $23.05. The company has a market capitalization of $322.67 million, a price-to-earnings ratio of -990.50 and a beta of 1.07.

Mastercraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, September 10th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $129.94 million for the quarter, compared to the consensus estimate of $101.79 million. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%.The company’s revenue was up 63.4% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. Research analysts expect that Mastercraft Boat will post 1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MCFT. BlackRock Inc. bought a new stake in Mastercraft Boat in the second quarter valued at $36,896,000. Dimensional Fund Advisors LP grew its position in shares of Mastercraft Boat by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 859,835 shares of the company’s stock worth $17,636,000 after acquiring an additional 28,063 shares during the last quarter. Pillsbury Lake Capital LLC bought a new position in shares of Mastercraft Boat during the second quarter worth about $12,886,943. Polar Asset Management Partners Inc. acquired a new stake in shares of Mastercraft Boat in the 2nd quarter worth about $10,073,000. Finally, Royce & Associates LP increased its holdings in shares of Mastercraft Boat by 19.0% in the 4th quarter. Royce & Associates LP now owns 305,466 shares of the company’s stock worth $5,776,000 after acquiring an additional 48,764 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for MasterCraft-branded performance boats, including wake, surf and ski boats designed for watersports and recreational use.

Its portfolio has also included Crest pontoon boats and Aviara luxury dayboats, serving customers seeking family-oriented boating, cruising and premium recreational vessels. The company sells its boats through a network of independent dealers and supports its products with parts, accessories and related services.

MasterCraft traces its origins to 1968 and is headquartered in Vonore, Tennessee.