Truist Financial Cuts MasterCraft Boat (NASDAQ:MCFT) Price Target to $16.00

MasterCraft Boat (NASDAQ:MCFT - Free Report) had its price objective decreased by Truist Financial from $22.00 to $16.00 in a report published on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird reissued a "neutral" rating and issued a $20.00 price target (down previously from $26.00) on shares of MasterCraft Boat in a research report on Friday, April 4th. StockNews.com cut MasterCraft Boat from a "hold" rating to a "sell" rating in a research note on Tuesday, April 8th. DA Davidson decreased their price objective on MasterCraft Boat from $23.00 to $22.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Baird R W lowered shares of MasterCraft Boat from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, B. Riley upgraded shares of MasterCraft Boat to a "hold" rating in a research note on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $19.60.

MasterCraft Boat Stock Up 3.7 %

NASDAQ:MCFT traded up $0.57 on Monday, reaching $16.00. The company's stock had a trading volume of 82,550 shares, compared to its average volume of 139,531. MasterCraft Boat has a 12-month low of $14.39 and a 12-month high of $23.00. The stock has a 50 day moving average price of $17.20 and a 200 day moving average price of $18.37. The firm has a market cap of $268.05 million, a price-to-earnings ratio of -40.00 and a beta of 1.34.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share 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 3.74%. Equities research analysts expect that MasterCraft Boat will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Fund L.P. Forager purchased 11,172 shares of the company's stock in a transaction on Thursday, April 17th. The stock was bought at an average price of $15.82 per share, with a total value of $176,741.04. Following the completion of the transaction, the insider now owns 1,724,941 shares of the company's stock, valued at approximately $27,288,566.62. This represents a 0.65 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in shares of MasterCraft Boat by 2.0% during the fourth quarter. Rhumbline Advisers now owns 27,432 shares of the company's stock worth $523,000 after buying an additional 528 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in MasterCraft Boat by 7.5% in the 4th quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company's stock valued at $149,000 after acquiring an additional 544 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of MasterCraft Boat by 10.7% during the 4th quarter. SG Americas Securities LLC now owns 7,673 shares of the company's stock worth $146,000 after purchasing an additional 742 shares during the period. Isthmus Partners LLC boosted its holdings in shares of MasterCraft Boat by 0.7% during the fourth quarter. Isthmus Partners LLC now owns 118,886 shares of the company's stock worth $2,267,000 after purchasing an additional 773 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its position in shares of MasterCraft Boat by 1.9% in the first quarter. SummerHaven Investment Management LLC now owns 43,323 shares of the company's stock valued at $746,000 after purchasing an additional 790 shares during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

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.