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

MasterCraft Boat (NASDAQ:MCFT) had its price objective increased by B. Riley from $34.00 to $36.00 in a research note released on Tuesday, The Fly reports. They currently have a neutral rating on the stock. The analysts noted that the move was a valuation call.

A number of other brokerages have also recently weighed in on MCFT. ValuEngine upgraded MasterCraft Boat from a strong sell rating to a sell rating in a research note on Tuesday, December 1st. Robert W. Baird upgraded MasterCraft Boat from a neutral rating to an outperform rating and set a $22.00 price objective for the company in a research note on Tuesday, September 22nd. Truist upped their price objective on MasterCraft Boat from $17.00 to $22.00 in a research note on Thursday, November 12th. Raymond James upped their target price on MasterCraft Boat from $25.50 to $29.00 and gave the company an outperform rating in a research report on Monday, January 4th. Finally, Zacks Investment Research lowered MasterCraft Boat from a buy rating to a hold rating in a research report on Saturday, December 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. MasterCraft Boat currently has a consensus rating of Hold and a consensus price target of $24.33.

Shares of NASDAQ:MCFT opened at $27.71 on Tuesday. The company has a market capitalization of $525.16 million, a P/E 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. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.47 and a current ratio of 1.01. MasterCraft Boat has a fifty-two week low of $4.90 and a fifty-two week high of $29.29.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Monday, November 16th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.25. MasterCraft Boat had a positive return on equity of 40.33% and a negative net margin of 6.47%. The business had revenue of $103.75 million during the quarter, compared to the consensus estimate of $96.17 million. As a group, research analysts predict that MasterCraft Boat will post 2.39 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in MCFT. Clark Estates Inc. NY purchased a new stake in MasterCraft Boat in the 3rd quarter valued at approximately $2,344,000. Wasatch Advisors Inc. lifted its position in shares of MasterCraft Boat by 22.9% during the third quarter. Wasatch Advisors Inc. now owns 666,194 shares of the company’s stock worth $11,652,000 after purchasing an additional 124,001 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its position in shares of MasterCraft Boat by 19.7% during the third quarter. Punch & Associates Investment Management Inc. now owns 544,870 shares of the company’s stock worth $9,530,000 after purchasing an additional 89,719 shares in the last quarter. Skylands Capital LLC lifted its position in shares of MasterCraft Boat by 45.8% during the third quarter. Skylands Capital LLC now owns 226,550 shares of the company’s stock worth $3,962,000 after purchasing an additional 71,150 shares in the last quarter. Finally, Brinker Capital Investments LLC acquired a new position in shares of MasterCraft Boat during the third quarter worth approximately $936,000. 81.41% of the stock is currently owned by institutional investors and hedge funds.

MasterCraft Boat Company Profile

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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