MasterCraft Boat (NASDAQ:MCFT) Raised to Hold at B. Riley

MasterCraft Boat (NASDAQ:MCFT) was upgraded by B. Riley to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. StockNews.com raised shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Wednesday. Truist Financial cut their price target on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 7th. Finally, DA Davidson cut their price target on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.50.

MasterCraft Boat Price Performance

MCFT opened at $19.06 on Wednesday. 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 has a 52-week low of $16.12 and a 52-week high of $24.05. The company has a 50 day moving average of $18.90 and a two-hundred day moving average of $18.96. The company has a market cap of $320.21 million, a P/E ratio of -47.65 and a beta of 1.67.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.70%. On average, analysts expect that MasterCraft Boat will post 0.56 earnings per share for the current year.

Insider Buying and Selling at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L bought 55,000 shares of the stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the completion of the purchase, the insider now directly owns 3,562,615 shares in the company, valued at approximately $67,084,040.45. This trade represents a 1.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On MasterCraft Boat

Institutional investors have recently modified their holdings of the company. US Bancorp DE grew its position in shares of MasterCraft Boat by 64.0% during the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after acquiring an additional 2,000 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of MasterCraft Boat during the third quarter worth about $126,000. JPMorgan Chase & Co. grew its position in shares of MasterCraft Boat by 7.5% during the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock worth $149,000 after acquiring an additional 544 shares during the last quarter. Quest Partners LLC bought a new position in shares of MasterCraft Boat during the third quarter worth about $150,000. Finally, Metis Global Partners LLC bought a new position in shares of MasterCraft Boat during the third quarter worth about $190,000. 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.