B. Riley Trims MasterCraft Boat (NASDAQ:MCFT) Target Price to $22.00

MasterCraft Boat (NASDAQ:MCFT) had its price target dropped by B. Riley from $24.00 to $22.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley’s price target would indicate a potential upside of 4.71% from the company’s current price.

Separately, Truist Financial raised their target price on MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.67.

MasterCraft Boat Stock Performance

NASDAQ MCFT traded down $0.49 during trading hours on Tuesday, hitting $21.01. The company had a trading volume of 101,704 shares, compared to its average volume of 119,583. MasterCraft Boat has a fifty-two week low of $19.22 and a fifty-two week high of $31.70. The company has a quick ratio of 1.58, a current ratio of 2.11 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $22.03 and a 200-day simple moving average of $21.61. The firm has a market cap of $357.80 million, a P/E ratio of 6.44 and a beta of 1.64.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Wednesday, February 7th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.17. MasterCraft Boat had a return on equity of 32.01% and a net margin of 10.66%. The business had revenue of $99.48 million during the quarter, compared to analysts’ expectations of $95.53 million. During the same quarter last year, the business posted $1.16 earnings per share. The company’s quarterly revenue was down 37.5% on a year-over-year basis. Equities analysts predict that MasterCraft Boat will post 1.51 EPS for the current year.

Insider Activity at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L acquired 24,167 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $20.72 per share, with a total value of $500,740.24. Following the completion of the transaction, the insider now directly owns 2,025,578 shares in the company, valued at approximately $41,969,976.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders purchased 214,095 shares of company stock valued at $4,646,393. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On MasterCraft Boat

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in MasterCraft Boat by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 1,333,985 shares of the company’s stock worth $30,201,000 after acquiring an additional 31,560 shares during the last quarter. Wellington Management Group LLP lifted its holdings in MasterCraft Boat by 11.2% during the 4th quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock worth $13,360,000 after buying an additional 59,200 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in MasterCraft Boat by 15.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,141 shares of the company’s stock worth $343,000 after buying an additional 2,057 shares during the period. GSA Capital Partners LLP acquired a new position in MasterCraft Boat during the 4th quarter worth about $306,000. Finally, Barclays PLC lifted its holdings in MasterCraft Boat by 151.9% during the 4th quarter. Barclays PLC now owns 39,362 shares of the company’s stock worth $892,000 after buying an additional 23,738 shares during the period. 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.