MasterCraft Boat (NASDAQ:MCFT) Raised to "Hold" at StockNews.com

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

Other equities analysts also recently issued reports about the company. Truist Financial decreased their price target on MasterCraft Boat from $22.00 to $16.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Baird R W lowered shares of MasterCraft Boat from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. DA Davidson lowered their price objective on shares of MasterCraft Boat from $23.00 to $22.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. Robert W. Baird reiterated a "neutral" rating and set a $20.00 price objective (down from $26.00) on shares of MasterCraft Boat in a research report on Friday, April 4th. Finally, B. Riley raised shares of MasterCraft Boat to a "hold" rating in a research report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, MasterCraft Boat presently has a consensus rating of "Hold" and an average price target of $19.60.

MasterCraft Boat Stock Performance

Shares of MCFT traded down $0.77 during midday trading on Friday, hitting $16.15. The company had a trading volume of 120,509 shares, compared to its average volume of 138,301. The firm has a market capitalization of $270.56 million, a P/E ratio of -40.37 and a beta of 1.12. The company's 50-day simple moving average is $16.76 and its 200-day simple moving average is $18.32. 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 posted its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. Equities analysts predict that MasterCraft Boat will post 0.62 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Fund L.P. Forager purchased 11,172 shares of the stock in a transaction on Thursday, April 17th. The shares were purchased at an average price of $15.82 per share, with a total value of $176,741.04. Following the transaction, the insider now directly owns 1,724,941 shares of the company's stock, valued at $27,288,566.62. This trade represents a 0.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired 77,420 shares of company stock worth $1,261,191 in the last 90 days. Corporate insiders own 4.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Coliseum Capital Management LLC lifted its stake in shares of MasterCraft Boat by 5.6% in the 4th quarter. Coliseum Capital Management LLC now owns 3,562,615 shares of the company's stock valued at $67,939,000 after acquiring an additional 189,945 shares during the last quarter. Systematic Financial Management LP increased its position in MasterCraft Boat by 4.2% in the 4th quarter. Systematic Financial Management LP now owns 1,071,424 shares of the company's stock valued at $20,432,000 after buying an additional 42,839 shares in the last quarter. Divisar Capital Management LLC increased its position in shares of MasterCraft Boat by 29.9% during the fourth quarter. Divisar Capital Management LLC now owns 1,006,805 shares of the company's stock worth $19,200,000 after acquiring an additional 231,908 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of MasterCraft Boat by 7.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 842,945 shares of the company's stock valued at $16,075,000 after purchasing an additional 57,729 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of MasterCraft Boat by 4.0% in the fourth quarter. American Century Companies Inc. now owns 445,259 shares of the company's stock valued at $8,491,000 after purchasing an additional 17,118 shares during the last quarter. Institutional investors and hedge funds 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.