Stifel Nicolaus Lowers MasterCraft Boat (NASDAQ:MCFT) Price Target to $22.00

MasterCraft Boat (NASDAQ:MCFT) had its target price reduced by investment analysts at Stifel Nicolaus from $25.00 to $22.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 16.28% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Truist Financial lowered their price objective on shares of MasterCraft Boat from $20.00 to $15.00 and set a “hold” rating for the company in a research report on Monday, July 8th. B. Riley decreased their target price on MasterCraft Boat from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $21.83.

MasterCraft Boat Trading Up 0.4 %

Shares of NASDAQ MCFT opened at $18.92 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.02 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $19.85 and its two-hundred day moving average price is $20.99. MasterCraft Boat has a 52-week low of $17.31 and a 52-week high of $31.70. The stock has a market capitalization of $321.28 million, a P/E ratio of 8.52 and a beta of 1.63.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.09. MasterCraft Boat had a return on equity of 21.71% and a net margin of 8.26%. The business had revenue of $95.71 million for the quarter, compared to analyst estimates of $92.32 million. On average, analysts anticipate that MasterCraft Boat will post 0.85 earnings per share for the current fiscal year.

Insider Activity at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L bought 18,084 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $20.57 per share, for a total transaction of $371,987.88. Following the transaction, the insider now owns 3,073,973 shares in the company, valued at $63,231,624.61. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 779,630 shares of company stock worth $15,949,590 in the last ninety days. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in shares of MasterCraft Boat by 11.2% during the fourth quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock valued at $13,360,000 after purchasing an additional 59,200 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of MasterCraft Boat by 34.2% in the 1st quarter. Wasatch Advisors LP now owns 381,471 shares of the company’s stock worth $9,048,000 after acquiring an additional 97,170 shares during the period. American Century Companies Inc. lifted its stake in shares of MasterCraft Boat by 15.8% in the 3rd quarter. American Century Companies Inc. now owns 258,634 shares of the company’s stock worth $5,747,000 after acquiring an additional 35,374 shares during the period. Empowered Funds LLC boosted its holdings in shares of MasterCraft Boat by 28.1% in the first quarter. Empowered Funds LLC now owns 183,617 shares of the company’s stock valued at $4,355,000 after acquiring an additional 40,302 shares in the last quarter. Finally, Isthmus Partners LLC increased its stake in shares of MasterCraft Boat by 71.5% during the first quarter. Isthmus Partners LLC now owns 146,174 shares of the company’s stock valued at $3,467,000 after acquiring an additional 60,947 shares during the period. 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.