MasterCraft Boat (NASDAQ:MCFT – Get Rating) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.
Several other analysts have also recently weighed in on MCFT. Raymond James cut their price objective on MasterCraft Boat from $38.00 to $29.00 and set an “outperform” rating on the stock in a research report on Friday, September 9th. Stifel Nicolaus assumed coverage on MasterCraft Boat in a research report on Thursday, August 18th. They issued a “buy” rating and a $35.00 price target on the stock. Robert W. Baird lowered their price objective on MasterCraft Boat from $32.00 to $30.00 in a research report on Friday, September 9th. Finally, B. Riley lowered their price objective on MasterCraft Boat from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, September 9th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $31.40.
MasterCraft Boat Price Performance
NASDAQ:MCFT opened at $21.00 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.72 and a current ratio of 1.57. The stock has a fifty day moving average of $22.78 and a 200 day moving average of $22.98. MasterCraft Boat has a 52-week low of $18.49 and a 52-week high of $29.69. The firm has a market capitalization of $381.17 million, a price-to-earnings ratio of 6.73 and a beta of 1.81.
MasterCraft Boat (NASDAQ:MCFT – Get Rating) last released its quarterly earnings data on Thursday, September 8th. The company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.46 by $0.31. MasterCraft Boat had a return on equity of 62.88% and a net margin of 8.22%. During the same period in the prior year, the company earned $0.94 EPS. On average, research analysts expect that MasterCraft Boat will post 4.24 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Truist Financial Corp lifted its stake in MasterCraft Boat by 33.9% in the first quarter. Truist Financial Corp now owns 133,015 shares of the company’s stock worth $3,273,000 after purchasing an additional 33,702 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of MasterCraft Boat during the first quarter worth $488,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of MasterCraft Boat during the first quarter worth $66,000. Summit Global Investments acquired a new stake in shares of MasterCraft Boat during the first quarter worth $249,000. Finally, Victory Capital Management Inc. lifted its position in MasterCraft Boat by 4.7% during the first quarter. Victory Capital Management Inc. now owns 110,242 shares of the company’s stock valued at $2,713,000 after purchasing an additional 4,912 shares during the period. Institutional investors own 89.33% of the company’s stock.
About MasterCraft Boat
MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through four segments: MasterCraft, Crest, NauticStar, and Aviara. The MasterCraft segment produces recreational performance sport boats, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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