DA Davidson Forecasts Strong Price Appreciation for MasterCraft Boat (NASDAQ:MCFT) Stock

MasterCraft Boat (NASDAQ:MCFT) had its price objective upped by equities researchers at DA Davidson from $17.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 5.22% from the company’s previous close.

Several other analysts have also weighed in on MCFT. StockNews.com cut MasterCraft Boat from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. Stifel Nicolaus restated a “buy” rating and set a $22.00 target price on shares of MasterCraft Boat in a report on Friday, August 30th. B. Riley upped their price target on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Truist Financial increased their price target on shares of MasterCraft Boat from $15.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.25.

MasterCraft Boat Price Performance

Shares of MCFT traded down $0.80 during trading hours on Friday, reaching $21.86. The company had a trading volume of 121,101 shares, compared to its average volume of 147,397. The company has a market capitalization of $363.03 million, a price-to-earnings ratio of -95.04 and a beta of 1.61. MasterCraft Boat has a 12-month low of $16.12 and a 12-month high of $24.05. The firm has a 50 day simple moving average of $17.78 and a 200-day simple moving average of $19.19. The company has a current ratio of 1.99, a quick ratio of 1.42 and a debt-to-equity ratio of 0.24.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $65.40 million during the quarter, compared to the consensus estimate of $61.19 million. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.42%. The company’s revenue for the quarter was down 37.2% on a year-over-year basis. During the same period last year, the firm earned $0.43 EPS. Research analysts expect that MasterCraft Boat will post 0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Isthmus Partners LLC grew its holdings in shares of MasterCraft Boat by 0.4% during the second quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock worth $28,000 after buying an additional 532 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 worth $380,000 after acquiring an additional 857 shares during the period. Koss Olinger Consulting LLC raised its holdings in MasterCraft Boat by 6.0% in the 3rd quarter. Koss Olinger Consulting LLC now owns 23,431 shares of the company’s stock valued at $427,000 after acquiring an additional 1,320 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of MasterCraft Boat by 0.7% during the 2nd quarter. Renaissance Technologies LLC now owns 214,400 shares of the company’s stock worth $4,048,000 after purchasing an additional 1,400 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of MasterCraft Boat by 64.0% during the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after purchasing an additional 2,000 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

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.