DA Davidson Cuts MasterCraft Boat (NASDAQ:MCFT) Price Target to $22.00

MasterCraft Boat (NASDAQ:MCFT) had its price target decreased by research analysts at DA Davidson from $23.00 to $22.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s price objective points to a potential upside of 12.59% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. B. Riley raised 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 lowered their price objective on shares of 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, StockNews.com upgraded shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.50.

MasterCraft Boat Stock Down 1.1 %

MCFT stock traded down $0.21 during mid-day trading on Monday, reaching $19.54. 25,839 shares of the company traded hands, compared to its average volume of 71,043. The stock has a market cap of $328.19 million, a price-to-earnings ratio of -48.65 and a beta of 1.67. MasterCraft Boat has a fifty-two week low of $16.12 and a fifty-two week high of $24.05. The firm’s 50 day moving average price is $19.02 and its 200 day moving average price is $18.98. 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 (NASDAQ:MCFT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share 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%. As a group, equities research analysts predict that MasterCraft Boat will post 0.56 EPS for the current fiscal year.

Insider Transactions at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of MasterCraft Boat stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $18.83 per share, for a total transaction of $1,035,650.00. Following the transaction, the insider now directly owns 3,562,615 shares of the company’s stock, valued at approximately $67,084,040.45. This trade represents a 1.57 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

Several large investors have recently added to or reduced their stakes in MCFT. Isthmus Partners LLC raised its holdings in shares of MasterCraft Boat by 0.7% in the 4th quarter. Isthmus Partners LLC now owns 118,886 shares of the company’s stock valued at $2,267,000 after acquiring an additional 773 shares in the last quarter. LHM Inc. purchased a new position in MasterCraft Boat in the 4th quarter worth approximately $1,636,000. Victory Capital Management Inc. increased its holdings in shares of MasterCraft Boat by 2.0% in the 4th quarter. Victory Capital Management Inc. now owns 73,112 shares of the company’s stock worth $1,394,000 after buying an additional 1,430 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of MasterCraft Boat by 9.4% during the 4th quarter. Principal Financial Group Inc. now owns 11,502 shares of the company’s stock valued at $219,000 after buying an additional 993 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in MasterCraft Boat by 2.0% in the fourth quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock valued at $523,000 after acquiring an additional 528 shares during the last quarter. 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.