MasterCraft Boat (NASDAQ:MCFT) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of MasterCraft Boat (NASDAQ:MCFT – Get Rating) from a buy rating to a strong-buy rating in a research report released on Monday.

A number of other research analysts have also recently commented on MCFT. B. Riley cut their price target on shares of MasterCraft Boat from $40.00 to $39.00 in a research note on Thursday, May 11th. KeyCorp initiated coverage on shares of MasterCraft Boat in a research note on Wednesday, April 19th. They set a sector weight rating for the company. Robert W. Baird increased their price objective on MasterCraft Boat from $30.00 to $40.00 and gave the stock an outperform rating in a research note on Thursday, February 9th. Truist Financial increased their price objective on MasterCraft Boat from $22.00 to $28.00 and gave the stock a hold rating in a research note on Thursday, February 9th. Finally, Raymond James increased their price objective on MasterCraft Boat from $31.00 to $40.00 and gave the stock an outperform rating in a research note on Thursday, February 9th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MasterCraft Boat currently has an average rating of Moderate Buy and a consensus target price of $35.20.

MasterCraft Boat Stock Performance

Shares of NASDAQ MCFT opened at $28.00 on Monday. The business has a fifty day simple moving average of $29.92 and a 200 day simple moving average of $28.58. The company has a current ratio of 1.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $489.86 million, a price-to-earnings ratio of 8.64 and a beta of 1.76. MasterCraft Boat has a one year low of $18.49 and a one year high of $35.29.

MasterCraft Boat (NASDAQ:MCFT – Get Rating) last issued its earnings results on Wednesday, May 10th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.31. The business had revenue of $166.78 million during the quarter, compared to analyst estimates of $158.37 million. MasterCraft Boat had a return on equity of 67.61% and a net margin of 7.66%. Sell-side analysts expect that MasterCraft Boat will post 4.42 EPS for the current year.

Institutional Trading of MasterCraft Boat

A number of hedge funds and other institutional investors have recently modified their holdings of MCFT. Tower Research Capital LLC TRC lifted its holdings in MasterCraft Boat by 143.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock worth $25,000 after buying an additional 489 shares in the last quarter. Group One Trading L.P. increased its stake in shares of MasterCraft Boat by 55.9% in the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after buying an additional 500 shares during the period. Meeder Asset Management Inc. increased its stake in shares of MasterCraft Boat by 44.7% in the 4th quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock valued at $37,000 after buying an additional 443 shares during the period. Quarry LP acquired a new stake in shares of MasterCraft Boat in the 1st quarter valued at $41,000. Finally, UBS Group AG increased its stake in shares of MasterCraft Boat by 932.3% in the 3rd quarter. UBS Group AG now owns 2,302 shares of the company’s stock valued at $43,000 after buying an additional 2,079 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

About MasterCraft Boat

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Mastercraft Boat Holdings, Inc engages in the designing, manufacturing, and selling of boats. It operates through the following segments: MasterCraft, Crest, NauticStar, and Aviara. The MasterCraft segment offers recreational performance boats used for water skiing, wakeboarding, and wake surfing activities and general recreational boating under product brands, such as MasterCraft.