DA Davidson Trims MasterCraft Boat (NASDAQ:MCFT) Target Price to $17.00

MasterCraft Boat (NASDAQ:MCFT) had its target price decreased by DA Davidson from $20.00 to $17.00 in a research report released on Tuesday morning, Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Several other equities analysts also recently issued reports on MCFT. StockNews.com downgraded MasterCraft Boat from a hold rating to a sell rating in a research report on Monday, September 2nd. B. Riley cut their price objective on MasterCraft Boat from $22.00 to $19.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Truist Financial reaffirmed a hold rating and set a $15.00 target price on shares of MasterCraft Boat in a report on Friday, August 30th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $22.00 price target on shares of MasterCraft Boat in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $19.20.

MasterCraft Boat Trading Up 1.7 %

MasterCraft Boat stock opened at $17.38 on Tuesday. MasterCraft Boat has a one year low of $16.23 and a one year high of $24.05. The stock has a market cap of $295.13 million, a PE ratio of 7.83 and a beta of 1.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.42 and a current ratio of 1.99. The stock has a 50-day moving average of $19.31 and a two-hundred day moving average of $20.39.

MasterCraft Boat (NASDAQ:MCFT) last released its earnings results on Thursday, August 29th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.18. The company had revenue of $67.20 million during the quarter, compared to analysts’ expectations of $63.10 million. MasterCraft Boat had a net margin of 2.13% and a return on equity of 9.44%. MasterCraft Boat’s revenue for the quarter was down 59.7% on a year-over-year basis. During the same period last year, the business earned $1.33 EPS. On average, research analysts anticipate that MasterCraft Boat will post 0.49 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L bought 24,054 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of $19.53 per share, with a total value of $469,774.62. Following the completion of the acquisition, the insider now directly owns 3,289,208 shares in the company, valued at $64,238,232.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 116,372 shares of company stock valued at $2,283,824 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of MasterCraft Boat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of MasterCraft Boat in the first quarter worth about $43,000. Squarepoint Ops LLC acquired a new position in MasterCraft Boat in the 2nd quarter worth about $190,000. CastleKnight Management LP acquired a new position in MasterCraft Boat in the 4th quarter worth about $263,000. Janus Henderson Group PLC grew its holdings in MasterCraft Boat by 40.5% in the first quarter. Janus Henderson Group PLC now owns 13,047 shares of the company’s stock valued at $310,000 after purchasing an additional 3,762 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of MasterCraft Boat by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,998 shares of the company’s stock valued at $380,000 after buying an additional 857 shares in the last quarter. 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.