Truist Financial Forecasts Strong Price Appreciation for MasterCraft Boat (NASDAQ:MCFT) Stock

MasterCraft Boat (NASDAQ:MCFT - Free Report) had its price objective increased by Truist Financial from $15.00 to $22.00 in a research report sent to investors on Thursday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other equities analysts also recently commented on MCFT. StockNews.com downgraded shares of MasterCraft Boat from a "hold" rating to a "sell" rating in a research note on Monday, September 2nd. DA Davidson dropped their price target on shares of MasterCraft Boat from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 10th. B. Riley dropped their price target on shares of MasterCraft Boat from $22.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a $22.00 price target on shares of MasterCraft Boat in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, MasterCraft Boat presently has an average rating of "Hold" and an average price target of $20.40.

MasterCraft Boat Trading Up 2.9 %

Shares of MCFT stock traded up $0.63 during mid-day trading on Thursday, reaching $22.66. The company's stock had a trading volume of 305,675 shares, compared to its average volume of 160,041. The company's 50 day simple moving average is $17.63 and its 200-day simple moving average is $19.18. MasterCraft Boat has a 12-month low of $16.12 and a 12-month high of $24.05. The company has a quick ratio of 1.42, a current ratio of 1.99 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $376.38 million, a PE ratio of 51.30 and a beta of 1.61.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last issued its earnings results on Thursday, August 29th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.18. MasterCraft Boat had a net margin of 2.13% and a return on equity of 9.44%. The business had revenue of $67.20 million for the quarter, compared to the consensus estimate of $63.10 million. During the same quarter last year, the firm posted $1.33 EPS. The business's revenue for the quarter was down 59.7% compared to the same quarter last year. On average, research analysts predict that MasterCraft Boat will post 0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MCFT. Janney Montgomery Scott LLC grew its holdings in MasterCraft Boat by 10.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 23,846 shares of the company's stock worth $566,000 after acquiring an additional 2,185 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of MasterCraft Boat by 28.1% in the 1st quarter. Empowered Funds LLC now owns 183,617 shares of the company's stock valued at $4,355,000 after buying an additional 40,302 shares during the period. Isthmus Partners LLC boosted its holdings in shares of MasterCraft Boat by 71.5% in the 1st quarter. Isthmus Partners LLC now owns 146,174 shares of the company's stock valued at $3,467,000 after buying an additional 60,947 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of MasterCraft Boat by 9.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 45,986 shares of the company's stock valued at $1,091,000 after buying an additional 3,855 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of MasterCraft Boat by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,998 shares of the company's stock valued at $380,000 after buying an additional 857 shares during the period. 97.64% of the stock is 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.