MasterCraft Boat (NASDAQ:MCFT) Share Price Passes Below 50 Day Moving Average – What’s Next?

Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $19.95 and traded as low as $18.21. MasterCraft Boat shares last traded at $18.38, with a volume of 41,963 shares traded.

Analyst Upgrades and Downgrades

MCFT has been the topic of a number of recent analyst reports. DA Davidson increased their price objective on MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. StockNews.com raised MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Truist Financial reduced their target price on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, January 7th. Finally, B. Riley increased their target price on MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.75.

MasterCraft Boat Trading Down 0.5 %

The firm has a market cap of $308.45 million, a P/E ratio of -79.83 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. The stock has a 50 day moving average of $19.72 and a 200 day moving average of $19.00.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings data 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. MasterCraft Boat had a positive return on equity of 6.55% and a negative net margin of 1.08%. The firm had revenue of $65.40 million for the quarter, compared to analysts’ expectations of $61.19 million. During the same period last year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was down 37.2% compared to the same quarter last year. As a group, equities research analysts predict that MasterCraft Boat Holdings, Inc. will post 0.61 EPS for the current year.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L acquired 55,000 shares of MasterCraft Boat stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $18.83 per share, with a total value of $1,035,650.00. Following the completion of the purchase, the insider now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Trading of MasterCraft Boat

Several large investors have recently modified their holdings of MCFT. US Bancorp DE grew its stake 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 purchasing an additional 2,000 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of MasterCraft Boat in the third quarter worth about $126,000. Quest Partners LLC bought a new stake in shares of MasterCraft Boat in the third quarter worth about $150,000. Squarepoint Ops LLC bought a new stake in shares of MasterCraft Boat in the second quarter worth about $190,000. Finally, Metis Global Partners LLC bought a new stake in shares of MasterCraft Boat in the third quarter worth about $190,000. 97.64% of the stock is owned by 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.