Truist Financial Forecasts Strong Price Appreciation for MasterCraft Boat (NASDAQ:MCFT) Stock

MasterCraft Boat (NASDAQ:MCFT) had its target price boosted by stock analysts at Truist Financial from $15.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price points to a potential upside of 0.64% from the company’s current price.

Several other equities analysts also recently commented on MCFT. B. Riley decreased their target price on MasterCraft Boat from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Stifel Nicolaus reissued a “buy” rating and set a $22.00 price target on shares of MasterCraft Boat in a research report on Friday, August 30th. DA Davidson reduced their price target on MasterCraft Boat from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Finally, StockNews.com downgraded MasterCraft Boat from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $21.60.

MasterCraft Boat Stock Performance

Shares of MasterCraft Boat stock traded down $0.80 on Thursday, hitting $21.86. The stock had a trading volume of 121,101 shares, compared to its average volume of 147,397. MasterCraft Boat has a twelve month low of $16.12 and a twelve month high of $24.05. The business’s 50 day moving average is $17.78 and its two-hundred day moving average is $19.21. The company has a quick ratio of 1.42, a current ratio of 1.99 and a debt-to-equity ratio of 0.24. The stock has a market cap of $363.03 million, a price-to-earnings ratio of -95.04 and a beta of 1.61.

MasterCraft Boat (NASDAQ:MCFT) last posted its 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. MasterCraft Boat had a positive return on equity of 6.42% and a negative net margin of 1.08%. The company had revenue of $65.40 million for the quarter, compared to the consensus estimate of $61.19 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The firm’s revenue for the quarter was down 37.2% on a year-over-year basis. Analysts forecast that MasterCraft Boat will post 0.49 EPS for the current year.

Institutional Investors Weigh In On MasterCraft Boat

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake in MasterCraft Boat by 64.0% during the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after purchasing an additional 2,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of MasterCraft Boat by 191.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,250 shares of the company’s stock worth $98,000 after acquiring an additional 3,450 shares in the last quarter. SG Americas Securities LLC acquired a new stake in MasterCraft Boat in the third quarter worth $126,000. Quest Partners LLC bought a new stake in MasterCraft Boat in the 3rd quarter valued at about $150,000. Finally, Squarepoint Ops LLC acquired a new stake in MasterCraft Boat in the 2nd quarter valued at $190,000. 97.64% of the stock is currently owned by institutional investors.

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.