Truist Financial Has Lowered Expectations for MasterCraft Boat (NASDAQ:MCFT) Stock Price

MasterCraft Boat (NASDAQ:MCFT) had its price objective lowered by stock analysts at Truist Financial from $22.00 to $16.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 1.91% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a research note on Tuesday, April 8th. Baird R W cut MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Robert W. Baird reissued a “neutral” rating and issued a $20.00 target price (down previously from $26.00) on shares of MasterCraft Boat in a report on Friday, April 4th. DA Davidson decreased their price target on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Finally, B. Riley raised MasterCraft Boat to a “hold” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $19.60.

MasterCraft Boat Stock Down 0.6 %

NASDAQ:MCFT opened at $15.70 on Monday. MasterCraft Boat has a 52-week low of $14.39 and a 52-week high of $23.00. The stock’s 50 day moving average price is $17.60 and its 200 day moving average price is $18.46. The company has a market capitalization of $263.02 million, a PE ratio of -39.25 and a beta of 1.34.

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

Institutional Trading of MasterCraft Boat

Several large investors have recently bought and sold shares of MCFT. Franklin Resources Inc. increased its stake in shares of MasterCraft Boat by 32.0% during the 4th quarter. Franklin Resources Inc. now owns 254,193 shares of the company’s stock worth $4,847,000 after purchasing an additional 61,554 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of MasterCraft Boat by 9.4% in the fourth quarter. Principal Financial Group Inc. now owns 11,502 shares of the company’s stock worth $219,000 after acquiring an additional 993 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of MasterCraft Boat in the 4th quarter valued at $448,000. LHM Inc. purchased a new stake in MasterCraft Boat during the fourth quarter valued at about $1,636,000. Finally, American Century Companies Inc. grew its holdings in shares of MasterCraft Boat by 4.0% during the 4th quarter. American Century Companies Inc. now owns 445,259 shares of the company’s stock worth $8,491,000 after purchasing an additional 17,118 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.