B. Riley Cuts MasterCraft Boat (NASDAQ:MCFT) Price Target to $22.00

MasterCraft Boat (NASDAQ:MCFT) had its price target cut by stock analysts at B. Riley from $24.00 to $22.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley’s target price would indicate a potential upside of 5.57% from the company’s previous close.

Separately, Truist Financial upped their target price on MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a report on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.67.

MasterCraft Boat Trading Down 1.0 %

Shares of MasterCraft Boat stock opened at $20.84 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 2.11 and a debt-to-equity ratio of 0.24. The firm has a market cap of $354.91 million, a price-to-earnings ratio of 6.37 and a beta of 1.64. The business has a fifty day simple moving average of $22.06 and a 200-day simple moving average of $21.60. MasterCraft Boat has a fifty-two week low of $19.22 and a fifty-two week high of $31.70.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.20 by $0.17. MasterCraft Boat had a return on equity of 32.01% and a net margin of 10.66%. The business had revenue of $99.48 million during the quarter, compared to the consensus estimate of $95.53 million. During the same period in the prior year, the business posted $1.16 earnings per share. MasterCraft Boat’s revenue was down 37.5% compared to the same quarter last year. On average, equities analysts forecast that MasterCraft Boat will post 1.51 EPS for the current fiscal year.

Insider Activity at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 60,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were purchased at an average cost of $21.84 per share, with a total value of $1,310,400.00. Following the completion of the transaction, the insider now owns 2,224,284 shares of the company’s stock, valued at $48,578,362.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have acquired 214,095 shares of company stock valued at $4,646,393. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MCFT. Tower Research Capital LLC TRC increased its holdings in shares of MasterCraft Boat by 143.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock valued at $25,000 after acquiring an additional 489 shares during the last quarter. Carmel Capital Partners LLC acquired a new position in shares of MasterCraft Boat during the 3rd quarter valued at about $28,000. Group One Trading L.P. increased its holdings in shares of MasterCraft Boat by 55.9% during the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of MasterCraft Boat by 44.7% during the 4th quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock valued at $37,000 after acquiring an additional 443 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of MasterCraft Boat during the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

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.