Truist Financial Forecasts Strong Price Appreciation for MasterCraft Boat (NASDAQ:MCFT) Stock

MasterCraft Boat (NASDAQ:MCFT) had its price target upped by research analysts at Truist Financial from $15.00 to $22.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 0.14% from the company’s previous close.

Several other research analysts have also recently commented on the stock. DA Davidson lowered their target price on shares of MasterCraft Boat from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Stifel Nicolaus reiterated a “buy” rating and set a $22.00 target price on shares of MasterCraft Boat in a research report on Friday, August 30th. B. Riley reduced their target price on MasterCraft Boat from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, StockNews.com downgraded MasterCraft Boat from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. One equities 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.60.

MasterCraft Boat Trading Down 0.3 %

MCFT stock opened at $21.97 on Thursday. The stock has a market cap of $364.92 million, a price-to-earnings ratio of 49.93 and a beta of 1.61. The company has a fifty day moving average price of $17.63 and a two-hundred day moving average price of $19.18. MasterCraft Boat has a one year low of $16.12 and a one year 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.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Thursday, August 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.18. The business had revenue of $67.20 million during the quarter, compared to the consensus estimate of $63.10 million. MasterCraft Boat had a return on equity of 9.44% and a net margin of 2.13%. The firm’s quarterly revenue was down 59.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. Equities analysts anticipate that MasterCraft Boat will post 0.49 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC boosted its stake in shares of MasterCraft Boat by 2.1% in the 3rd quarter. Empowered Funds LLC now owns 192,029 shares of the company’s stock valued at $3,497,000 after purchasing an additional 4,036 shares in the last quarter. Metis Global Partners LLC bought a new position in MasterCraft Boat in the 3rd quarter valued at approximately $190,000. Victory Capital Management Inc. boosted its position in MasterCraft Boat by 5.2% in the third quarter. Victory Capital Management Inc. now owns 71,682 shares of the company’s stock valued at $1,305,000 after buying an additional 3,568 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of MasterCraft Boat during the third quarter worth $191,000. Finally, US Bancorp DE increased its holdings in shares of MasterCraft Boat by 64.0% during the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after buying an additional 2,000 shares in the last quarter. 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.