MasterCraft Boat (NASDAQ:MCFT) Stock Rating Upgraded by StockNews.com

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Tuesday.

Several other research firms have also weighed in on MCFT. Truist Financial reduced 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 report on Tuesday, January 7th. DA Davidson boosted their price target on shares of MasterCraft Boat from $17.00 to $23.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Finally, B. Riley lifted their price target on MasterCraft Boat from $14.00 to $18.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $20.75.

MasterCraft Boat Stock Down 6.8 %

Shares of MCFT traded down $1.43 during trading hours on Tuesday, reaching $19.75. The stock had a trading volume of 117,337 shares, compared to its average volume of 73,117. The company has a market capitalization of $331.80 million, a price-to-earnings ratio of -85.87 and a beta of 1.67. The firm has a 50-day simple moving average of $19.05 and a 200 day simple moving average of $19.00. MasterCraft Boat has a 12 month low of $16.12 and a 12 month high of $24.05. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.28.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.04. MasterCraft Boat had a positive return on equity of 6.55% and a negative net margin of 1.08%. Equities research analysts predict that MasterCraft Boat will post 0.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L purchased 53,853 shares of the company's stock in a transaction on Thursday, December 26th. The stock was purchased at an average price of $18.87 per share, with a total value of $1,016,206.11. Following the completion of the purchase, the insider now directly owns 3,426,523 shares in the company, valued at approximately $64,658,489.01. This trade represents a 1.60 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MCFT. Forager Capital Management LLC boosted its holdings in MasterCraft Boat by 29.9% during the 3rd quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company's stock valued at $30,915,000 after acquiring an additional 390,405 shares during the period. LHM Inc. purchased a new position in shares of MasterCraft Boat during the fourth quarter valued at approximately $1,636,000. Systematic Financial Management LP raised its holdings in MasterCraft Boat by 6.8% in the 3rd quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company's stock worth $18,731,000 after purchasing an additional 65,412 shares in the last quarter. Ballentine Partners LLC purchased a new stake in MasterCraft Boat in the third quarter worth about $192,000. Finally, Principal Financial Group Inc. purchased a new position in shares of MasterCraft Boat during the 3rd quarter worth approximately $191,000. 97.64% of the stock is currently owned by institutional investors.

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.