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

MasterCraft Boat (NASDAQ:MCFT) had its price target 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 upped their price target on MasterCraft Boat from $20.00 to $22.00 and gave the stock a hold rating in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, MasterCraft Boat presently has a consensus rating of Hold and a consensus target price of $24.67.

MasterCraft Boat Stock Up 1.1 %

MasterCraft Boat stock opened at $21.10 on Tuesday. The company has a market capitalization of $359.42 million, a P/E ratio of 6.45 and a beta of 1.64. 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 fifty-two week low of $19.22 and a fifty-two week high of $31.70. The stock has a 50-day simple moving average of $22.04 and a 200-day simple moving average of $21.58.

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

Insider Transactions at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L acquired 60,000 shares of MasterCraft Boat stock in a transaction that occurred on Friday, April 12th. The stock was purchased at an average price of $21.84 per share, for a total transaction of $1,310,400.00. Following the completion of the purchase, the insider now directly owns 2,224,284 shares of the company’s stock, valued at $48,578,362.56. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders bought 214,095 shares of company stock worth $4,646,393. Company insiders own 2.50% of the company’s stock.

Institutional Trading of MasterCraft Boat

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in MasterCraft Boat by 143.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock valued at $25,000 after acquiring an additional 489 shares in the last quarter. Carmel Capital Partners LLC purchased a new position in MasterCraft Boat during the 3rd quarter valued at about $28,000. Group One Trading L.P. increased its holdings in MasterCraft Boat by 55.9% during the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in MasterCraft Boat by 44.7% during the 4th quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock valued at $37,000 after acquiring an additional 443 shares in the last quarter. Finally, Quarry LP purchased a new position in MasterCraft Boat during the 1st quarter valued at about $41,000. 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.