MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 557,400 shares, a decrease of 19.4% from the March 15th total of 691,800 shares. Based on an average daily trading volume, of 167,100 shares, the days-to-cover ratio is presently 3.3 days. Currently, 3.1% of the company’s stock are sold short.
A number of research analysts have issued reports on the company. Truist upped their price objective on MasterCraft Boat from $24.00 to $26.00 in a research note on Wednesday, January 27th. Raymond James increased their price objective on MasterCraft Boat from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, March 29th. B. Riley increased their price objective on shares of MasterCraft Boat from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, February 11th. Finally, Zacks Investment Research cut shares of MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $27.33.
Several institutional investors and hedge funds have recently bought and sold shares of MCFT. Morgan Stanley increased its holdings in shares of MasterCraft Boat by 1,288.7% during the fourth quarter. Morgan Stanley now owns 286,567 shares of the company’s stock valued at $7,118,000 after acquiring an additional 265,931 shares in the last quarter. Heartland Advisors Inc. purchased a new stake in MasterCraft Boat in the fourth quarter valued at approximately $5,962,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in MasterCraft Boat in the 4th quarter worth approximately $4,889,000. Royce & Associates LP boosted its position in MasterCraft Boat by 6.8% in the 4th quarter. Royce & Associates LP now owns 1,138,646 shares of the company’s stock worth $28,284,000 after purchasing an additional 72,677 shares in the last quarter. Finally, Brinker Capital Investments LLC purchased a new stake in MasterCraft Boat in the 3rd quarter worth approximately $936,000. Hedge funds and other institutional investors own 82.85% of the company’s stock.
Shares of MCFT opened at $27.36 on Monday. The firm has a market capitalization of $518.44 million, a P/E ratio of -22.24 and a beta of 2.26. MasterCraft Boat has a 12-month low of $7.16 and a 12-month high of $32.25. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 1.48. The firm has a fifty day moving average price of $28.13 and a 200-day moving average price of $25.04.
MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings data on Tuesday, February 9th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.24. The firm had revenue of $118.68 million during the quarter, compared to the consensus estimate of $115.03 million. MasterCraft Boat had a positive return on equity of 40.33% and a negative net margin of 6.47%. Analysts predict that MasterCraft Boat will post 2.39 earnings per share for the current year.
MasterCraft Boat Company Profile
MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through three segments: MasterCraft, NauticStar, and Crest. The MasterCraft segment produces recreational performance sport boats and luxury day boats under the MasterCraft and Aviara brands, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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