StockNews.com Upgrades MasterCraft Boat (NASDAQ:MCFT) to Hold

StockNews.com upgraded shares of MasterCraft Boat (NASDAQ:MCFT - Free Report) from a sell rating to a hold rating in a research report report published on Friday morning.

A number of other research firms have also issued reports on MCFT. Robert W. Baird reissued a "neutral" rating and set a $20.00 price target (down previously from $26.00) on shares of MasterCraft Boat in a report on Friday, April 4th. Truist Financial dropped their target price on MasterCraft Boat from $22.00 to $16.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Baird R W lowered shares of MasterCraft Boat from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. DA Davidson cut their price objective on shares of MasterCraft Boat from $23.00 to $22.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. Finally, B. Riley raised shares of MasterCraft Boat to a "hold" rating in a report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.60.

MasterCraft Boat Stock Performance

NASDAQ MCFT traded up $1.82 during trading hours on Friday, hitting $17.60. The company had a trading volume of 194,839 shares, compared to its average volume of 138,715. The business has a 50 day moving average of $16.68 and a 200-day moving average of $18.29. The company has a market cap of $294.92 million, a PE ratio of -44.01 and a beta of 1.12. MasterCraft Boat has a 1-year low of $14.39 and a 1-year high of $23.00.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.12. The firm had revenue of $75.96 million during the quarter, compared to analysts' expectations of $75.15 million. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. The business's revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. Sell-side analysts expect that MasterCraft Boat will post 0.62 earnings per share for the current fiscal year.

Insider Activity at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Fund L.P. Forager bought 4,658 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was purchased at an average cost of $15.09 per share, for a total transaction of $70,289.22. Following the completion of the purchase, the insider now owns 1,702,353 shares of the company's stock, valued at $25,688,506.77. This trade represents a 0.27 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders bought 77,420 shares of company stock valued at $1,261,191. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On MasterCraft Boat

A number of institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new stake in shares of MasterCraft Boat during the 3rd quarter worth $191,000. SG Americas Securities LLC raised its holdings in shares of MasterCraft Boat by 10.7% in the 4th 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. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of MasterCraft Boat by 106.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,200 shares of the company's stock valued at $233,000 after purchasing an additional 6,300 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of MasterCraft Boat by 2.0% during the 4th quarter. Rhumbline Advisers now owns 27,432 shares of the company's stock worth $523,000 after purchasing an additional 528 shares during the period. Finally, Victory Capital Management Inc. increased its position in MasterCraft Boat by 2.0% during the 4th quarter. Victory Capital Management Inc. now owns 73,112 shares of the company's stock worth $1,394,000 after purchasing an additional 1,430 shares in the last quarter. 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.