MasterCraft Boat (NASDAQ:MCFT) Stock Rating Upgraded by StockNews.com

MasterCraft Boat (NASDAQ:MCFT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also recently weighed in on MCFT. B. Riley upgraded MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Truist Financial decreased their price target on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. Finally, DA Davidson cut their price objective on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, MasterCraft Boat currently has an average rating of “Hold” and an average target price of $20.50.

MasterCraft Boat Stock Performance

Shares of MasterCraft Boat stock opened at $17.36 on Friday. MasterCraft Boat has a 52-week low of $16.12 and a 52-week high of $24.05. The stock’s 50-day simple moving average is $18.31 and its 200 day simple moving average is $18.63. The stock has a market capitalization of $290.83 million, a P/E ratio of -43.40 and a beta of 1.71.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. Equities research analysts forecast that MasterCraft Boat will post 0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L bought 53,853 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $18.87 per share, with a total value of $1,016,206.11. Following the completion of the purchase, the insider now directly owns 3,426,523 shares in the company, valued at $64,658,489.01. This represents a 1.60 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by insiders.

Institutional Trading of MasterCraft Boat

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Forager Capital Management LLC boosted its stake in shares of MasterCraft Boat by 29.9% during the third quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock valued at $30,915,000 after purchasing an additional 390,405 shares during the period. Divisar Capital Management LLC raised its holdings in shares of MasterCraft Boat by 29.9% during the fourth quarter. Divisar Capital Management LLC now owns 1,006,805 shares of the company’s stock valued at $19,200,000 after acquiring an additional 231,908 shares in the last quarter. Coliseum Capital Management LLC raised its holdings in shares of MasterCraft Boat by 5.6% during the fourth quarter. Coliseum Capital Management LLC now owns 3,562,615 shares of the company’s stock valued at $67,939,000 after acquiring an additional 189,945 shares in the last quarter. LHM Inc. bought a new position in shares of MasterCraft Boat during the fourth quarter valued at approximately $1,636,000. Finally, Systematic Financial Management LP raised its holdings in shares of MasterCraft Boat by 6.8% during the third 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 in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.