DA Davidson Issues Positive Forecast for MasterCraft Boat (NASDAQ:MCFT) Stock Price

MasterCraft Boat (NASDAQ:MCFT) had its price target raised by DA Davidson from $17.00 to $23.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

MCFT has been the topic of several other research reports. StockNews.com lowered shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. B. Riley boosted their target price on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday. Truist Financial boosted their target price on shares of MasterCraft Boat from $15.00 to $22.00 and gave the company a “hold” rating in a report on Thursday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $22.00 target price on shares of MasterCraft Boat in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.60.

MasterCraft Boat Trading Down 3.5 %

Shares of NASDAQ:MCFT traded down $0.80 during mid-day trading on Friday, reaching $21.86. 121,101 shares of the company’s stock were exchanged, compared to its average volume of 147,397. The firm has a market capitalization of $363.03 million, a price-to-earnings ratio of -95.04 and a beta of 1.61. The business’s fifty day moving average price is $17.78 and its 200-day moving average price is $19.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.42 and a current ratio of 1.99. MasterCraft Boat has a twelve month low of $16.12 and a twelve month high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $65.40 million for the quarter, compared to analyst estimates of $61.19 million. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.42%. MasterCraft Boat’s revenue was down 37.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. On average, research analysts predict that MasterCraft Boat will post 0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On MasterCraft Boat

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Isthmus Partners LLC increased its stake in MasterCraft Boat by 0.4% in the second quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock valued at $28,000 after purchasing an additional 532 shares in the last quarter. US Bancorp DE increased its stake in MasterCraft Boat by 64.0% in the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after purchasing an additional 2,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of MasterCraft Boat by 191.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,250 shares of the company’s stock worth $98,000 after acquiring an additional 3,450 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of MasterCraft Boat during the third quarter worth about $126,000. Finally, Quest Partners LLC bought a new stake in shares of MasterCraft Boat during the third quarter worth about $150,000. 97.64% of the stock is owned by 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.