MasterCraft Boat (NASDAQ:MCFT) PT Lowered to $22.00 at B. Riley

MasterCraft Boat (NASDAQ:MCFT) had its target price trimmed by B. Riley from $24.00 to $22.00 in a report released on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Truist Financial raised their price target on shares of MasterCraft Boat from $20.00 to $22.00 and gave the stock a hold rating in a research report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $24.67.

MasterCraft Boat Stock Performance

MCFT opened at $20.88 on Tuesday. MasterCraft Boat has a 52-week low of $19.22 and a 52-week high of $31.70. The company has a quick ratio of 1.58, a current ratio of 2.11 and a debt-to-equity ratio of 0.24. The company has a market cap of $355.59 million, a P/E ratio of 6.39 and a beta of 1.64. The firm’s 50-day moving average price is $22.05 and its 200-day moving average price is $21.59.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.17. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The firm had revenue of $99.48 million for the quarter, compared to the consensus estimate of $95.53 million. During the same quarter in the prior year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was down 37.5% compared to the same quarter last year. As a group, equities analysts anticipate that MasterCraft Boat will post 1.51 EPS for the current fiscal year.

Insider Transactions at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L acquired 11,308 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were acquired at an average price of $21.63 per share, with a total value of $244,592.04. Following the purchase, the insider now directly owns 2,162,984 shares of the company’s stock, valued at $46,785,343.92. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders have bought 214,095 shares of company stock valued at $4,646,393 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MasterCraft Boat

A number of hedge funds and other institutional investors have recently made changes to their positions in MCFT. Tower Research Capital LLC TRC grew its stake in MasterCraft Boat by 143.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock valued at $25,000 after acquiring an additional 489 shares during the period. Carmel Capital Partners LLC acquired a new stake in MasterCraft Boat in the 3rd quarter valued at $28,000. Quarry LP acquired a new stake in MasterCraft Boat in the 1st quarter valued at $41,000. Group One Trading L.P. grew its stake in MasterCraft Boat by 55.9% in the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in MasterCraft Boat by 44.7% in the 4th quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock valued at $37,000 after acquiring an additional 443 shares during the period. Institutional investors and hedge funds 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.