MasterCraft Boat (NASDAQ:MCFT) Stock Price Expected to Rise, DA Davidson Analyst Says

MasterCraft Boat (NASDAQ:MCFT) had its price target boosted by DA Davidson from $17.00 to $23.00 in a research report report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently commented on MCFT. Stifel Nicolaus restated a “buy” rating and set a $22.00 price target on shares of MasterCraft Boat in a research note on Friday, August 30th. Truist Financial increased their price target on shares of MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday. B. Riley raised their price target on shares of MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, StockNews.com lowered shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.60.

MasterCraft Boat Stock Down 3.5 %

Shares of NASDAQ:MCFT traded down $0.80 during midday trading on Friday, hitting $21.86. 121,101 shares of the company’s stock were exchanged, compared to its average volume of 147,397. 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 stock has a 50 day moving average price of $17.78 and a 200-day moving average price of $19.21. The company has a market cap of $363.03 million, a PE ratio of -95.04 and a beta of 1.61. MasterCraft Boat has a 12 month low of $16.12 and a 12 month high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data 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 6.42%. The business 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 posted $0.43 EPS. The firm’s quarterly revenue was down 37.2% compared to the same quarter last year. On average, sell-side analysts anticipate that MasterCraft Boat will post 0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On MasterCraft Boat

A number of hedge funds have recently modified their holdings of MCFT. Janney Montgomery Scott LLC boosted its position in shares of MasterCraft Boat by 10.1% in the first quarter. Janney Montgomery Scott LLC now owns 23,846 shares of the company’s stock worth $566,000 after purchasing an additional 2,185 shares during the period. Empowered Funds LLC boosted its position in shares of MasterCraft Boat by 28.1% during the first quarter. Empowered Funds LLC now owns 183,617 shares of the company’s stock worth $4,355,000 after acquiring an additional 40,302 shares during the last quarter. Isthmus Partners LLC boosted its position in shares of MasterCraft Boat by 71.5% during the first quarter. Isthmus Partners LLC now owns 146,174 shares of the company’s stock worth $3,467,000 after acquiring an additional 60,947 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of MasterCraft Boat by 9.2% during the first quarter. Orion Portfolio Solutions LLC now owns 45,986 shares of the company’s stock worth $1,091,000 after acquiring an additional 3,855 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in MasterCraft Boat by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,998 shares of the company’s stock valued at $380,000 after purchasing an additional 857 shares in the last quarter. 97.64% of the stock is currently owned by 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.