Truist Financial Lowers MasterCraft Boat (NASDAQ:MCFT) Price Target to $20.00

MasterCraft Boat (NASDAQ:MCFT) had its target price dropped by analysts at Truist Financial from $22.00 to $20.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target would suggest a potential upside of 11.05% from the company’s previous close.

Several other equities research analysts have also commented on MCFT. StockNews.com upgraded MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. B. Riley increased their price target on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, DA Davidson lifted their price objective on shares of MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.75.

MasterCraft Boat Price Performance

MasterCraft Boat stock opened at $18.01 on Tuesday. The stock’s 50 day moving average is $19.91 and its 200 day moving average is $19.04. MasterCraft Boat has a one year low of $16.12 and a one year high of $24.05. The firm has a market cap of $302.50 million, a P/E ratio of -78.30 and a beta of 1.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The company had revenue of $65.40 million for the quarter, compared to analyst estimates of $61.19 million. During the same period in the prior year, the firm posted $0.43 EPS. The company’s quarterly revenue was down 37.2% on a year-over-year basis. As a group, research analysts expect that MasterCraft Boat will post 0.61 EPS for the current year.

Insider Activity at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L acquired 55,000 shares of MasterCraft Boat stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $18.83 per share, for a total transaction of $1,035,650.00. Following the completion of the acquisition, the insider now directly owns 3,562,615 shares of the company’s stock, valued at $67,084,040.45. This represents a 1.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MasterCraft Boat

Large investors have recently added to or reduced their stakes in the business. Forager Capital Management LLC raised its stake in shares of MasterCraft Boat by 29.9% in the third quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock worth $30,915,000 after purchasing an additional 390,405 shares during the last quarter. Systematic Financial Management LP raised its position in MasterCraft Boat by 6.8% in the 3rd quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after buying an additional 65,412 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in MasterCraft Boat by 13.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock valued at $13,484,000 after acquiring an additional 82,509 shares in the last quarter. American Century Companies Inc. lifted its stake in MasterCraft Boat by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 395,570 shares of the company’s stock valued at $7,468,000 after acquiring an additional 51,016 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in 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 acquiring an additional 1,400 shares during the last quarter. 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.