MasterCraft Boat (NASDAQ:MCFT - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Thursday.
A number of other brokerages have also recently weighed in on MCFT. DA Davidson cut their price objective on shares of MasterCraft Boat from $23.00 to $22.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. B. Riley raised shares of MasterCraft Boat to a "hold" rating in a report on Wednesday, February 12th. Baird R W cut shares of MasterCraft Boat from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Truist Financial cut their price objective on shares of MasterCraft Boat from $22.00 to $16.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $20.00 target price (down from $26.00) on shares of MasterCraft Boat in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, MasterCraft Boat presently has a consensus rating of "Hold" and a consensus target price of $19.60.
Read Our Latest Report on MasterCraft Boat
MasterCraft Boat Stock Performance
NASDAQ:MCFT traded down $0.11 during trading hours on Thursday, reaching $16.16. The company's stock had a trading volume of 12,752 shares, compared to its average volume of 138,402. The firm has a 50-day simple moving average of $16.89 and a 200-day simple moving average of $18.34. MasterCraft Boat has a 1 year low of $14.39 and a 1 year high of $23.00. The firm has a market capitalization of $270.75 million, a price-to-earnings ratio of -40.65 and a beta of 1.34.
MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.04. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. Equities analysts anticipate that MasterCraft Boat will post 0.62 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, major shareholder Fund L.P. Forager purchased 4,658 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was bought at an average cost of $15.09 per share, for a total transaction of $70,289.22. Following the completion of the transaction, the insider now directly owns 1,702,353 shares in the company, valued at $25,688,506.77. This represents a 0.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders purchased 35,220 shares of company stock worth $561,969. 4.00% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of MCFT. Franklin Resources Inc. grew its stake in MasterCraft Boat by 32.0% in the 4th quarter. Franklin Resources Inc. now owns 254,193 shares of the company's stock worth $4,847,000 after acquiring an additional 61,554 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of MasterCraft Boat by 9.4% in the 4th quarter. Principal Financial Group Inc. now owns 11,502 shares of the company's stock valued at $219,000 after purchasing an additional 993 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of MasterCraft Boat in the 4th quarter worth approximately $448,000. LHM Inc. purchased a new position in shares of MasterCraft Boat in the 4th quarter valued at $1,636,000. Finally, Trexquant Investment LP purchased a new position in MasterCraft Boat in the fourth quarter valued at about $463,000. Hedge funds and other institutional investors own 97.64% of the company's stock.
About MasterCraft Boat
(
Get Free Report)
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.
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