MasterCraft Boat (NASDAQ:MCFT) PT Lowered to $17.00 at DA Davidson

MasterCraft Boat (NASDAQ:MCFT) had its price objective cut by stock analysts at DA Davidson from $20.00 to $17.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price objective suggests a potential downside of 0.87% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Truist Financial reissued a “hold” rating and set a $15.00 target price on shares of MasterCraft Boat in a research report on Friday, August 30th. StockNews.com cut MasterCraft Boat from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. B. Riley decreased their price objective on shares of MasterCraft Boat from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $22.00 target price on shares of MasterCraft Boat in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.20.

MasterCraft Boat Price Performance

MCFT stock traded down $0.07 during mid-day trading on Tuesday, hitting $17.15. The company had a trading volume of 28,191 shares, compared to its average volume of 157,424. The company has a quick ratio of 1.42, a current ratio of 1.99 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $284.86 million, a price-to-earnings ratio of 7.73 and a beta of 1.61. MasterCraft Boat has a 12-month low of $16.98 and a 12-month high of $24.05. The company has a 50-day moving average price of $19.35 and a 200 day moving average price of $20.48.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Thursday, August 29th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.18. The company had revenue of $67.20 million for the quarter, compared to analyst estimates of $63.10 million. MasterCraft Boat had a net margin of 2.13% and a return on equity of 9.44%. The firm’s revenue for the quarter was down 59.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 EPS. On average, research analysts anticipate that MasterCraft Boat will post 0.49 earnings per share for the current year.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L bought 53,856 shares of the stock in a transaction on Monday, June 17th. The stock was bought at an average price of $19.70 per share, with a total value of $1,060,963.20. Following the completion of the purchase, the insider now directly owns 3,265,154 shares in the company, valued at approximately $64,323,533.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have bought 179,972 shares of company stock valued at $3,572,996. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MasterCraft Boat

A number of hedge funds and other institutional investors have recently bought and sold shares of MCFT. Isthmus Partners LLC raised its position in MasterCraft Boat by 0.4% in the 2nd quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock valued at $28,000 after purchasing an additional 532 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position 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 valued at $380,000 after purchasing an additional 857 shares during the last quarter. Renaissance Technologies LLC raised its holdings in MasterCraft Boat by 0.7% during the second 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 in the last quarter. Victory Capital Management Inc. lifted its position in MasterCraft Boat by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 70,296 shares of the company’s stock valued at $1,592,000 after purchasing an additional 1,441 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in MasterCraft Boat in the 1st quarter valued at approximately $43,000. 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.