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

MasterCraft Boat (NASDAQ:MCFT) had its target price decreased by B. Riley from $24.00 to $22.00 in a research note published on Tuesday morning, Benzinga reports. B. Riley currently has a neutral rating on the stock.

Separately, Truist Financial lifted their price target on shares of MasterCraft Boat from $20.00 to $22.00 and gave the company a hold rating in a research report on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, MasterCraft Boat presently has an average rating of Hold and an average price target of $24.67.

MasterCraft Boat Price Performance

Shares of MCFT opened at $21.10 on Tuesday. The firm has a market cap of $359.42 million, a PE ratio of 6.45 and a beta of 1.64. The firm’s 50 day moving average price is $22.04 and its 200 day moving average price is $21.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.58 and a current ratio of 2.11. MasterCraft Boat has a twelve month low of $19.22 and a twelve month high of $31.70.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.17. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The company had revenue of $99.48 million for the quarter, compared to analyst estimates of $95.53 million. During the same quarter last year, the firm posted $1.16 earnings per share. The company’s quarterly revenue was down 37.5% compared to the same quarter last year. As a group, research analysts expect that MasterCraft Boat will post 1.51 EPS for the current fiscal year.

Insider Transactions at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L acquired 11,308 shares of the stock in a transaction dated Wednesday, April 10th. The shares were acquired at an average price of $21.63 per share, for a total transaction of $244,592.04. Following the completion of the purchase, the insider now owns 2,162,984 shares in the company, valued at approximately $46,785,343.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have purchased 214,095 shares of company stock worth $4,646,393. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jupiter Asset Management Ltd. acquired a new stake in shares of MasterCraft Boat in the third quarter worth $893,000. Wellington Management Group LLP boosted its stake in MasterCraft Boat by 73.5% during the third quarter. Wellington Management Group LLP now owns 530,900 shares of the company’s stock worth $11,797,000 after buying an additional 224,900 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in MasterCraft Boat by 0.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock worth $4,723,000 after buying an additional 617 shares in the last quarter. AQR Capital Management LLC boosted its stake in MasterCraft Boat by 29.6% during the third quarter. AQR Capital Management LLC now owns 412,977 shares of the company’s stock worth $9,176,000 after buying an additional 94,420 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in MasterCraft Boat by 15.8% during the third quarter. American Century Companies Inc. now owns 258,634 shares of the company’s stock worth $5,747,000 after buying an additional 35,374 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

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.