MasterCraft Boat (NASDAQ:MCFT) Price Target Cut to $15.00

MasterCraft Boat (NASDAQ:MCFT) had its target price decreased by analysts at Truist Financial from $20.00 to $15.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price points to a potential downside of 15.68% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of MasterCraft Boat from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. B. Riley lowered their price target on shares of MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.83.

MasterCraft Boat Stock Up 0.1 %

Shares of NASDAQ:MCFT opened at $17.79 on Monday. MasterCraft Boat has a 52-week low of $17.31 and a 52-week high of $31.70. The firm has a fifty day moving average of $19.94 and a 200 day moving average of $21.07. The firm has a market capitalization of $302.07 million, a PE ratio of 8.01 and a beta of 1.63. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.54 and a current ratio of 2.02.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. The business had revenue of $95.71 million during the quarter, compared to the consensus estimate of $92.32 million. MasterCraft Boat had a net margin of 8.26% and a return on equity of 21.71%. As a group, research analysts anticipate that MasterCraft Boat will post 0.85 EPS for the current fiscal year.

Insider Activity at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L purchased 60,000 shares of MasterCraft Boat stock in a transaction that occurred on Friday, April 12th. The shares were bought at an average price of $21.84 per share, for a total transaction of $1,310,400.00. Following the completion of the transaction, the insider now directly owns 2,224,284 shares of the company’s stock, valued at $48,578,362.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 839,630 shares of company stock worth $17,259,990 over the last 90 days. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On MasterCraft Boat

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of MasterCraft Boat during the first quarter valued at about $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in MasterCraft Boat by 41.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,486 shares of the company’s stock worth $102,000 after purchasing an additional 1,306 shares during the period. Carmel Capital Partners LLC grew its holdings in MasterCraft Boat by 596.4% in the fourth quarter. Carmel Capital Partners LLC now owns 8,879 shares of the company’s stock worth $201,000 after purchasing an additional 7,604 shares during the period. CastleKnight Management LP purchased a new stake in MasterCraft Boat in the fourth quarter worth about $263,000. Finally, Janus Henderson Group PLC grew its holdings in MasterCraft Boat by 40.5% in the first quarter. Janus Henderson Group PLC now owns 13,047 shares of the company’s stock worth $310,000 after purchasing an additional 3,762 shares during the period. Hedge funds and other institutional investors 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.