MasterCraft Boat (NASDAQ:MCFT) Price Target Raised to $23.00 at DA Davidson

MasterCraft Boat (NASDAQ:MCFT - Free Report) had its price objective hoisted by DA Davidson from $17.00 to $23.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts also recently commented on the stock. StockNews.com downgraded shares of MasterCraft Boat from a "hold" rating to a "sell" rating in a report on Monday, September 2nd. Stifel Nicolaus reaffirmed a "buy" rating and issued a $22.00 target price on shares of MasterCraft Boat in a research report on Friday, August 30th. Truist Financial increased their price objective on MasterCraft Boat from $15.00 to $22.00 and gave the stock a "hold" rating in a research report on Thursday. Finally, B. Riley upped their price target on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a "neutral" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, MasterCraft Boat presently has an average rating of "Hold" and an average target price of $21.60.

MasterCraft Boat Stock Down 3.5 %

Shares of NASDAQ:MCFT traded down $0.80 during trading on Friday, hitting $21.86. 120,901 shares of the company were exchanged, compared to its average volume of 159,860. MasterCraft Boat has a fifty-two week low of $16.12 and a fifty-two week high of $24.05. The stock has a market cap of $363.09 million, a price-to-earnings ratio of 50.36 and a beta of 1.61. The company has a current ratio of 1.99, a quick ratio of 1.42 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average price of $17.71 and a two-hundred day moving average price of $19.20.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.09. MasterCraft Boat had a net margin of 2.13% and a return on equity of 9.44%. The company had revenue of $65.40 million for the quarter, compared to analyst estimates of $61.19 million. During the same period in the previous year, the business earned $0.43 EPS. MasterCraft Boat's revenue for the quarter was down 37.2% compared to the same quarter last year. As a group, research analysts anticipate that MasterCraft Boat will post 0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MasterCraft Boat

Institutional investors and hedge funds have recently bought and sold shares of the company. Isthmus Partners LLC lifted its holdings in shares of MasterCraft Boat by 0.4% during the 2nd quarter. Isthmus Partners LLC now owns 146,706 shares of the company's stock worth $28,000 after acquiring an additional 532 shares during the period. 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. boosted its holdings 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 valued at $98,000 after purchasing an additional 3,450 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of MasterCraft Boat in the 3rd quarter valued at $126,000. Finally, Quest Partners LLC acquired a new stake in MasterCraft Boat in the third quarter valued at about $150,000. Institutional investors 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.