Truist Financial Cuts MasterCraft Boat (NASDAQ:MCFT) Price Target to $20.00

MasterCraft Boat (NASDAQ:MCFT) had its target price cut by Truist Financial from $22.00 to $20.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a hold rating on the stock.

Several other research firms also recently weighed in on MCFT. StockNews.com raised MasterCraft Boat from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. B. Riley raised their price target on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, DA Davidson upped their price objective on MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.75.

MasterCraft Boat Stock Performance

Shares of MCFT opened at $18.01 on Tuesday. MasterCraft Boat has a 1 year low of $16.12 and a 1 year high of $24.05. The stock has a 50-day simple moving average of $19.91 and a 200-day simple moving average of $19.04. 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 stock has a market capitalization of $302.50 million, a PE ratio of -78.30 and a beta of 1.67.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.03 by $0.09. The company had revenue of $65.40 million for the quarter, compared to analyst estimates of $61.19 million. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The firm’s revenue was down 37.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 earnings per share. On average, analysts predict that MasterCraft Boat will post 0.61 earnings per share for the current fiscal year.

Insider Transactions at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $18.83 per share, with a total value of $1,035,650.00. Following the purchase, the insider now directly owns 3,562,615 shares of the company’s stock, valued at $67,084,040.45. The trade was a 1.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.00% of the company’s stock.

Institutional Trading of MasterCraft Boat

A number of institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in MasterCraft Boat by 18.1% during the 2nd quarter. Rhumbline Advisers now owns 27,994 shares of the company’s stock valued at $529,000 after acquiring an additional 4,298 shares in the last quarter. American Century Companies Inc. grew its holdings in MasterCraft Boat by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 395,570 shares of the company’s stock valued at $7,468,000 after buying an additional 51,016 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of MasterCraft Boat by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock worth $13,484,000 after acquiring an additional 82,509 shares during the last quarter. Renaissance Technologies LLC increased its position in MasterCraft Boat by 0.7% during the 2nd quarter. Renaissance Technologies LLC now owns 214,400 shares of the company’s stock worth $4,048,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in MasterCraft Boat in the 2nd quarter valued at about $190,000. 97.64% of the stock is currently owned by hedge funds and other 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.