MasterCraft Boat (NASDAQ:MCFT) Price Target Raised to $22.00 at Truist Financial

MasterCraft Boat (NASDAQ:MCFT) had its target price raised by Truist Financial from $15.00 to $22.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Other analysts have also issued reports about the stock. DA Davidson cut their target price 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. Stifel Nicolaus reissued a “buy” rating and set a $22.00 target price on shares of MasterCraft Boat in a research report on Friday, August 30th. StockNews.com lowered shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Finally, B. Riley lowered their target price on MasterCraft Boat from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.60.

MasterCraft Boat Stock Performance

NASDAQ MCFT traded down $0.81 during mid-day trading on Thursday, reaching $21.85. 91,790 shares of the stock were exchanged, compared to its average volume of 159,726. The business’s 50 day moving average is $17.71 and its 200-day moving average is $19.20. MasterCraft Boat has a 1 year low of $16.12 and a 1 year high of $24.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.42 and a current ratio of 1.99. The company has a market capitalization of $362.93 million, a P/E ratio of 50.36 and a beta of 1.61.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.03 by $0.09. MasterCraft Boat had a net margin of 2.13% and a return on equity of 9.44%. The business had revenue of $65.40 million during the quarter, compared to analyst estimates of $61.19 million. During the same quarter last year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was down 37.2% compared to the same quarter last year. On average, equities research analysts forecast that MasterCraft Boat will post 0.49 EPS for the current fiscal year.

Institutional Trading of MasterCraft Boat

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE boosted its position in shares of MasterCraft Boat by 64.0% in the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after buying an additional 2,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of MasterCraft Boat by 191.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,250 shares of the company’s stock valued at $98,000 after acquiring an additional 3,450 shares in the last quarter. SG Americas Securities LLC acquired a new position in MasterCraft Boat during the third quarter valued at approximately $126,000. Quest Partners LLC acquired a new stake in shares of MasterCraft Boat in the third quarter worth $150,000. Finally, Squarepoint Ops LLC bought a new stake in shares of MasterCraft Boat during the 2nd quarter worth $190,000. 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.