MasterCraft Boat (NASDAQ:MCFT) Raised to “Hold” at StockNews.com

MasterCraft Boat (NASDAQ:MCFT) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Several other equities research analysts also recently issued reports on MCFT. DA Davidson raised their price target on MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Truist Financial raised their target price on shares of MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $22.00 price target on shares of MasterCraft Boat in a research note on Friday, August 30th. Finally, B. Riley raised their price objective on shares of MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, MasterCraft Boat presently has an average rating of “Hold” and a consensus price target of $21.25.

MasterCraft Boat Stock Down 0.8 %

Shares of MCFT stock opened at $18.40 on Thursday. MasterCraft Boat has a 52-week low of $16.12 and a 52-week high of $24.05. The stock has a market cap of $309.05 million, a price-to-earnings ratio of -80.00 and a beta of 1.64. The firm’s 50-day moving average is $19.50 and its 200-day moving average is $19.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.49 and a current ratio of 2.01.

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

Institutional Investors Weigh In On MasterCraft Boat

Institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. bought a new position in MasterCraft Boat during the third quarter worth about $191,000. Forager Capital Management LLC grew its position in shares of MasterCraft Boat by 29.9% during the 3rd quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock worth $30,915,000 after purchasing an additional 390,405 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of MasterCraft Boat by 25.6% during the third quarter. Public Employees Retirement System of Ohio now owns 12,854 shares of the company’s stock worth $234,000 after purchasing an additional 2,620 shares during the period. Systematic Financial Management LP raised its position in shares of MasterCraft Boat by 6.8% in the third quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after buying an additional 65,412 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of MasterCraft Boat in the third quarter valued at approximately $150,000. 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.