MasterCraft Boat (NASDAQ:MCFT) Price Target Lowered to $22.00 at DA Davidson

MasterCraft Boat (NASDAQ:MCFT - Free Report) had its price target trimmed by DA Davidson from $23.00 to $22.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. B. Riley lifted their price target 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. Truist Financial reduced their target price on MasterCraft Boat from $22.00 to $20.00 and set a "hold" rating on the stock in a report on Tuesday, January 7th. Finally, StockNews.com upgraded MasterCraft Boat from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $20.50.

MasterCraft Boat Trading Down 0.1 %

Shares of MasterCraft Boat stock traded down $0.03 during trading on Monday, reaching $18.93. 28,915 shares of the company were exchanged, compared to its average volume of 73,423. The business has a 50-day moving average price of $18.93 and a 200-day moving average price of $18.96. The firm has a market capitalization of $318.07 million, a price-to-earnings ratio of -47.34 and a beta of 1.67. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. MasterCraft Boat has a twelve month low of $16.12 and a twelve month high of $24.05.

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

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L bought 53,853 shares of the business's stock in a transaction on Thursday, December 26th. The shares were purchased at an average price of $18.87 per share, for a total transaction of $1,016,206.11. Following the purchase, the insider now owns 3,426,523 shares of the company's stock, valued at approximately $64,658,489.01. The trade was a 1.60 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.00% of the company's stock.

Institutional Trading of MasterCraft Boat

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. bought a new position in MasterCraft Boat in the third quarter valued at $191,000. Systematic Financial Management LP grew its holdings in shares of MasterCraft Boat by 6.8% in the 3rd quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company's stock valued at $18,731,000 after acquiring an additional 65,412 shares in the last quarter. US Bancorp DE raised its holdings 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 acquiring an additional 2,000 shares in the last quarter. Forager Capital Management LLC boosted its position in MasterCraft Boat by 29.9% during the third quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company's stock valued at $30,915,000 after purchasing an additional 390,405 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in MasterCraft Boat by 5.2% during the third quarter. Victory Capital Management Inc. now owns 71,682 shares of the company's stock valued at $1,305,000 after purchasing an additional 3,568 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.