B. Riley Raises MasterCraft Boat (NASDAQ:MCFT) Price Target to $18.00

MasterCraft Boat (NASDAQ:MCFT) had its target price upped by B. Riley from $14.00 to $18.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also weighed in on MCFT. Truist Financial lifted their price objective on MasterCraft Boat from $15.00 to $22.00 and gave the company a “hold” rating in a report on Thursday. Stifel Nicolaus restated a “buy” rating and issued a $22.00 price target on shares of MasterCraft Boat in a research note on Friday, August 30th. DA Davidson cut their price objective on MasterCraft Boat from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Finally, StockNews.com lowered shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.60.

MasterCraft Boat Stock Performance

Shares of MCFT stock traded down $0.80 during midday trading on Thursday, hitting $21.86. The company had a trading volume of 120,901 shares, compared to its average volume of 159,860. 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 0.24, a current ratio of 1.99 and a quick ratio of 1.42. The company’s 50 day simple moving average is $17.71 and its 200 day simple moving average is $19.20. The stock has a market cap of $363.09 million, a price-to-earnings ratio of 50.36 and a beta of 1.61.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.09. MasterCraft Boat had a net margin of 2.13% and a return on equity of 9.44%. The company had revenue of $65.40 million for the quarter, compared to analysts’ expectations of $61.19 million. During the same period in the previous year, the company posted $0.43 EPS. MasterCraft Boat’s revenue was down 37.2% compared to the same quarter last year. Research analysts anticipate that MasterCraft Boat will post 0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MCFT. Isthmus Partners LLC grew its stake in MasterCraft Boat by 0.4% in the 2nd quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock valued at $28,000 after acquiring an additional 532 shares during the last quarter. US Bancorp DE lifted its holdings in shares of MasterCraft Boat by 64.0% in the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after purchasing an additional 2,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of MasterCraft Boat by 191.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,250 shares of the company’s stock valued at $98,000 after purchasing an additional 3,450 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of MasterCraft Boat during the 3rd quarter worth approximately $126,000. Finally, Quest Partners LLC acquired a new position in shares of MasterCraft Boat during the 3rd quarter worth approximately $150,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.