Truist Financial Cuts MasterCraft Boat (NASDAQ:MCFT) Price Target to $20.00

MasterCraft Boat (NASDAQ:MCFT) had its price target decreased by Truist Financial from $22.00 to $20.00 in a research note published on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other analysts have also recently issued reports about the company. DA Davidson increased their price objective on MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. B. Riley upped their price objective on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, StockNews.com raised MasterCraft Boat from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.75.

MasterCraft Boat Trading Down 3.2 %

NASDAQ:MCFT opened at $18.04 on Tuesday. The company has a market capitalization of $303.00 million, a PE ratio of -78.43 and a beta of 1.67. MasterCraft Boat has a 52-week low of $16.12 and a 52-week high of $24.05. The stock’s 50 day moving average price is $19.90 and its 200 day moving average price is $19.05. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results 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 6.55%. The business had revenue of $65.40 million for the quarter, compared to analyst estimates of $61.19 million. During the same period last year, the firm posted $0.43 earnings per share. The company’s revenue for the quarter was down 37.2% compared to the same quarter last year. On average, research analysts anticipate that MasterCraft Boat will post 0.61 EPS for the current year.

Insider Activity at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L bought 55,000 shares of the stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the acquisition, the insider now owns 3,562,615 shares in the company, valued at $67,084,040.45. This represents a 1.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MasterCraft Boat

Hedge funds have recently modified their holdings of the company. Forager Capital Management LLC raised its position in shares of MasterCraft Boat by 29.9% in the third quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock valued at $30,915,000 after buying an additional 390,405 shares during the last quarter. Systematic Financial Management LP raised its holdings in MasterCraft Boat by 6.8% in the 3rd quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after acquiring an additional 65,412 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of MasterCraft Boat by 13.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock worth $13,484,000 after purchasing an additional 82,509 shares during the period. American Century Companies Inc. boosted its holdings in shares of MasterCraft Boat by 14.8% during the second quarter. American Century Companies Inc. now owns 395,570 shares of the company’s stock worth $7,468,000 after purchasing an additional 51,016 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of MasterCraft Boat by 0.7% in the second quarter. Renaissance Technologies LLC now owns 214,400 shares of the company’s stock valued at $4,048,000 after purchasing an additional 1,400 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.

MasterCraft Boat Company Profile

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.