MasterCraft Boat (NASDAQ:MCFT) Upgraded at StockNews.com

StockNews.com upgraded shares of MasterCraft Boat (NASDAQ:MCFT) from a sell rating to a hold rating in a report released on Saturday.

Several other equities research analysts have also weighed in on the company. DA Davidson reduced their target price on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Truist Financial reduced their price objective on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, January 7th. Finally, B. Riley upgraded shares of MasterCraft Boat to a “hold” rating in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, MasterCraft Boat currently has a consensus rating of “Hold” and a consensus target price of $20.50.

MasterCraft Boat Stock Up 0.7 %

NASDAQ MCFT opened at $17.49 on Friday. The company has a 50 day moving average price of $18.29 and a two-hundred day moving average price of $18.63. MasterCraft Boat has a 12-month low of $16.12 and a 12-month high of $24.05. The stock has a market capitalization of $293.01 million, a PE ratio of -43.72 and a beta of 1.71.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. As a group, equities analysts anticipate that MasterCraft Boat will post 0.62 EPS for the current year.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L acquired 55,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were bought at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the acquisition, the insider now owns 3,562,615 shares in the company, valued at $67,084,040.45. This trade represents a 1.57 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On MasterCraft Boat

A number of institutional investors have recently added to or reduced their stakes in MCFT. US Bancorp DE raised its holdings in MasterCraft Boat by 64.0% in the 3rd quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after acquiring an additional 2,000 shares in the last quarter. State of Wyoming bought a new stake in shares of MasterCraft Boat during the fourth quarter valued at approximately $108,000. Tower Research Capital LLC TRC raised its stake in shares of MasterCraft Boat by 260.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company’s stock valued at $118,000 after purchasing an additional 4,487 shares in the last quarter. SG Americas Securities LLC lifted its position in MasterCraft Boat by 10.7% in the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after purchasing an additional 742 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in MasterCraft Boat by 7.5% during the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock worth $149,000 after buying an additional 544 shares in the last quarter. 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.