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

MasterCraft Boat (NASDAQ:MCFT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other research firms also recently weighed in on MCFT. Truist Financial decreased their target price on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. B. Riley boosted their price objective on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, DA Davidson dropped their target price on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Monday. 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 data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.50.

MasterCraft Boat Stock Performance

Shares of MasterCraft Boat stock opened at $19.06 on Wednesday. MasterCraft Boat has a 52 week low of $16.12 and a 52 week high of $24.05. The company has a 50 day moving average price of $18.90 and a 200 day moving average price of $18.96. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $320.21 million, a P/E ratio of -47.65 and a beta of 1.67.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.70%. Sell-side analysts expect that MasterCraft Boat will post 0.56 EPS for the current year.

Insider Transactions at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $18.83 per share, for a total transaction of $1,035,650.00. Following the completion of the purchase, the insider now directly owns 3,562,615 shares of the company’s stock, valued at approximately $67,084,040.45. This trade represents a 1.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of MasterCraft Boat in the 3rd quarter valued at $126,000. Koss Olinger Consulting LLC increased its holdings in shares of MasterCraft Boat by 6.0% in the 3rd quarter. Koss Olinger Consulting LLC now owns 23,431 shares of the company’s stock valued at $427,000 after acquiring an additional 1,320 shares during the period. Ballentine Partners LLC purchased a new stake in MasterCraft Boat in the 3rd quarter valued at $192,000. US Bancorp DE raised its position in MasterCraft Boat by 64.0% in the 3rd quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in MasterCraft Boat during the 3rd quarter worth $191,000. Hedge funds and other 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.