MasterCraft Boat (NASDAQ:MCFT) Price Target Raised to $36.00

MasterCraft Boat (NASDAQ:MCFT) had its price target lifted by B. Riley from $34.00 to $36.00 in a research note published on Tuesday morning, The Fly reports. The brokerage currently has a neutral rating on the stock. The analysts noted that the move was a valuation call.

A number of other equities analysts have also commented on MCFT. Raymond James raised their price target on shares of MasterCraft Boat from $25.50 to $29.00 and gave the stock an outperform rating in a research report on Monday, January 4th. Zacks Investment Research lowered shares of MasterCraft Boat from a buy rating to a hold rating in a research report on Saturday, December 19th. BidaskClub lowered shares of MasterCraft Boat from a strong-buy rating to a buy rating in a research report on Thursday, December 31st. Robert W. Baird raised shares of MasterCraft Boat from a neutral rating to an outperform rating and set a $22.00 price target on the stock in a research report on Tuesday, September 22nd. Finally, ValuEngine raised shares of MasterCraft Boat from a strong sell rating to a sell rating in a research report on Tuesday, December 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. MasterCraft Boat currently has an average rating of Hold and an average target price of $24.33.

Shares of MCFT opened at $27.71 on Tuesday. The firm has a market capitalization of $525.16 million, a PE ratio of -22.53 and a beta of 2.24. The company’s 50-day moving average is $24.54 and its 200-day moving average is $21.39. MasterCraft Boat has a fifty-two week low of $4.90 and a fifty-two week high of $29.29. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.01 and a quick ratio of 0.47.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Monday, November 16th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.25. MasterCraft Boat had a negative net margin of 6.47% and a positive return on equity of 40.33%. The company had revenue of $103.75 million for the quarter, compared to analyst estimates of $96.17 million. Analysts predict that MasterCraft Boat will post 2.39 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC increased its holdings in MasterCraft Boat by 44.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 102,025 shares of the company’s stock valued at $1,944,000 after buying an additional 31,380 shares during the period. California Public Employees Retirement System increased its holdings in MasterCraft Boat by 118.7% in the 2nd quarter. California Public Employees Retirement System now owns 42,009 shares of the company’s stock valued at $800,000 after buying an additional 22,800 shares during the period. Bank of Montreal Can boosted its stake in shares of MasterCraft Boat by 6.8% in the 2nd quarter. Bank of Montreal Can now owns 63,633 shares of the company’s stock valued at $1,148,000 after purchasing an additional 4,056 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of MasterCraft Boat in the 3rd quarter valued at approximately $393,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of MasterCraft Boat in the 3rd quarter valued at approximately $375,000. 81.41% of the stock is currently owned by hedge funds and other institutional investors.

About MasterCraft Boat

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through three segments: MasterCraft, NauticStar, and Crest. The MasterCraft segment produces recreational performance sport boats and luxury day boats under the MasterCraft and Aviara brands, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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