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

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

A number of other equities research analysts have also recently commented on the company. B. Riley increased their price target on MasterCraft Boat from $14.00 to $18.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. DA Davidson dropped 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. Finally, Truist Financial decreased their price target on MasterCraft Boat from $22.00 to $20.00 and set a "hold" rating for the company in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $20.50.

MasterCraft Boat Stock Up 0.5 %

NASDAQ MCFT traded up $0.10 during trading on Wednesday, reaching $19.16. 46,341 shares of the company's stock traded hands, compared to its average volume of 68,885. The company's 50 day simple moving average is $18.88 and its two-hundred day simple moving average is $18.93. MasterCraft Boat has a 12-month low of $16.12 and a 12-month high of $24.05. The firm has a market cap of $321.89 million, a price-to-earnings ratio of -47.90 and a beta of 1.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.05 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 3.70%. As a group, sell-side analysts forecast that MasterCraft Boat will post 0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L acquired 55,000 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $18.83 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On MasterCraft Boat

Several hedge funds and other institutional investors have recently made changes to their positions in MCFT. Forager Capital Management LLC raised its holdings in shares of MasterCraft Boat by 29.9% during the 3rd quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company's stock worth $30,915,000 after acquiring an additional 390,405 shares during the period. Divisar Capital Management LLC increased its holdings in shares of MasterCraft Boat by 29.9% during the 4th quarter. Divisar Capital Management LLC now owns 1,006,805 shares of the company's stock worth $19,200,000 after buying an additional 231,908 shares during the last quarter. LHM Inc. acquired a new stake in shares of MasterCraft Boat during the 4th quarter worth approximately $1,636,000. Systematic Financial Management LP lifted its holdings in MasterCraft Boat by 6.8% in the third 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 during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of MasterCraft Boat by 32.0% during the 4th quarter. Franklin Resources Inc. now owns 254,193 shares of the company's stock worth $4,847,000 after purchasing an additional 61,554 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

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.