MasterCraft Boat (NASDAQ:MCFT) Upgraded to “Hold” at StockNews.com

MasterCraft Boat (NASDAQ:MCFT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

MCFT has been the subject of several other research reports. Stifel Nicolaus restated a “buy” rating and set a $22.00 price target on shares of MasterCraft Boat in a report on Friday, August 30th. B. Riley increased their target price on MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Truist Financial boosted their price target on shares of MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Finally, DA Davidson increased their price objective on shares of MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.25.

MasterCraft Boat Price Performance

Shares of MasterCraft Boat stock traded down $0.34 on Thursday, hitting $18.55. 61,826 shares of the company traded hands, compared to its average volume of 151,265. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.49 and a current ratio of 2.01. The business has a 50-day simple moving average of $19.47 and a 200 day simple moving average of $19.22. MasterCraft Boat has a 52 week low of $16.12 and a 52 week high of $24.05. The stock has a market capitalization of $311.57 million, a P/E ratio of -80.65 and a beta of 1.64.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $61.19 million. During the same quarter in the previous year, the company earned $0.43 EPS. The business’s quarterly revenue was down 37.2% compared to the same quarter last year. Research analysts expect that MasterCraft Boat will post 0.61 earnings per share for the current fiscal year.

Institutional Trading of MasterCraft Boat

Several institutional investors and hedge funds have recently made changes to their positions in the business. Isthmus Partners LLC raised its position in MasterCraft Boat by 0.4% during the 2nd quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock valued at $28,000 after purchasing an additional 532 shares in the last quarter. US Bancorp DE grew its holdings in MasterCraft Boat by 64.0% during the 3rd quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after acquiring an additional 2,000 shares in the last quarter. SG Americas Securities LLC purchased a new position in MasterCraft Boat during the 3rd quarter valued at about $126,000. Quest Partners LLC purchased a new stake in shares of MasterCraft Boat in the 3rd quarter worth approximately $150,000. Finally, Squarepoint Ops LLC bought a new position in shares of MasterCraft Boat during the second quarter valued at approximately $190,000. 97.64% of the stock is currently owned by institutional investors.

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.