MasterCraft Boat (NASDAQ:MCFT) Raised to Hold at StockNews.com

StockNews.com upgraded shares of MasterCraft Boat (NASDAQ:MCFT - Free Report) from a sell rating to a hold rating in a report released on Saturday.

Other research analysts have also recently issued reports about the company. B. Riley raised MasterCraft Boat to a "hold" rating in a research report on Wednesday, February 12th. Truist Financial decreased their price target on shares of MasterCraft Boat from $22.00 to $20.00 and set a "hold" rating for the company in a research note on Tuesday, January 7th. Finally, DA Davidson reduced their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $20.50.

MasterCraft Boat Trading Up 0.7 %

Shares of NASDAQ MCFT traded up $0.13 during mid-day trading on Friday, reaching $17.49. 51,810 shares of the company's stock were exchanged, compared to its average volume of 137,628. The firm has a market capitalization of $293.01 million, a price-to-earnings ratio of -43.72 and a beta of 1.71. The business has a fifty day simple moving average of $18.29 and a 200 day simple moving average of $18.63. MasterCraft Boat has a twelve month low of $16.12 and a twelve month high of $24.05.

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MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last issued its quarterly earnings data 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 negative net margin of 2.29% and a positive return on equity of 3.74%. Equities research analysts predict that MasterCraft Boat will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the company's stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the purchase, the insider now owns 3,562,615 shares in the company, valued at approximately $67,084,040.45. The trade was a 1.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On MasterCraft Boat

Several institutional investors and hedge funds have recently modified their holdings of MCFT. US Bancorp DE grew its stake 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 buying an additional 2,000 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of MasterCraft Boat in the third quarter valued at approximately $191,000. Victory Capital Management Inc. increased its stake in shares of MasterCraft Boat by 5.2% during the third quarter. Victory Capital Management Inc. now owns 71,682 shares of the company's stock worth $1,305,000 after purchasing an additional 3,568 shares during the period. Metis Global Partners LLC bought a new position in shares of MasterCraft Boat during the third quarter worth approximately $190,000. Finally, Empowered Funds LLC lifted its holdings in MasterCraft Boat by 2.1% during the 3rd quarter. Empowered Funds LLC now owns 192,029 shares of the company's stock worth $3,497,000 after purchasing an additional 4,036 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.