Truist Financial Cuts MasterCraft Boat (NASDAQ:MCFT) Price Target to $15.00

MasterCraft Boat (NASDAQ:MCFT) had its price objective trimmed by Truist Financial from $20.00 to $15.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Several other analysts also recently weighed in on the company. B. Riley decreased their price objective on MasterCraft Boat from $24.00 to $22.00 and set a neutral rating for the company in a report on Tuesday, April 16th. Stifel Nicolaus decreased their price objective on MasterCraft Boat from $27.00 to $25.00 and set a buy rating for the company in a report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, MasterCraft Boat presently has a consensus rating of Hold and an average price target of $22.33.

MasterCraft Boat Stock Down 0.7 %

Shares of NASDAQ:MCFT opened at $17.66 on Monday. MasterCraft Boat has a 52-week low of $17.31 and a 52-week high of $31.70. The stock has a market cap of $299.87 million, a P/E ratio of 7.95 and a beta of 1.63. The business’s 50 day moving average is $19.89 and its 200 day moving average is $21.05. The company has a quick ratio of 1.54, a current ratio of 2.02 and a debt-to-equity ratio of 0.23.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $95.71 million for the quarter, compared to the consensus estimate of $92.32 million. MasterCraft Boat had a return on equity of 21.71% and a net margin of 8.26%. Sell-side analysts predict that MasterCraft Boat will post 0.85 EPS for the current year.

Insider Buying and Selling at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L bought 60,000 shares of the business’s stock in a transaction on Friday, April 12th. The shares were bought at an average price of $21.84 per share, for a total transaction of $1,310,400.00. Following the completion of the purchase, the insider now directly owns 2,224,284 shares of the company’s stock, valued at $48,578,362.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 839,630 shares of company stock worth $17,259,990 over the last quarter. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On MasterCraft Boat

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of MasterCraft Boat during the first quarter worth about $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of MasterCraft Boat by 41.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,486 shares of the company’s stock worth $102,000 after acquiring an additional 1,306 shares during the last quarter. Carmel Capital Partners LLC grew its stake in shares of MasterCraft Boat by 596.4% during the fourth quarter. Carmel Capital Partners LLC now owns 8,879 shares of the company’s stock worth $201,000 after acquiring an additional 7,604 shares during the last quarter. CastleKnight Management LP purchased a new stake in shares of MasterCraft Boat during the fourth quarter worth about $263,000. Finally, Janus Henderson Group PLC grew its stake in shares of MasterCraft Boat by 40.5% during the first quarter. Janus Henderson Group PLC now owns 13,047 shares of the company’s stock worth $310,000 after acquiring an additional 3,762 shares during the last quarter. Hedge funds and other institutional investors 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.