MasterCraft Boat (NASDAQ:MCFT) Upgraded at StockNews.com

MasterCraft Boat (NASDAQ:MCFT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

A number of other analysts have also issued reports on the stock. Baird R W cut shares of MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. B. Riley upgraded MasterCraft Boat to a “hold” rating in a research note on Wednesday, February 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 price objective (down previously from $26.00) on shares of MasterCraft Boat in a research note on Friday, April 4th. Truist Financial decreased their target price on shares of MasterCraft Boat from $22.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Finally, DA Davidson dropped their price target on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Six equities research 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.60.

MasterCraft Boat Stock Up 1.6 %

NASDAQ MCFT opened at $16.92 on Friday. MasterCraft Boat has a fifty-two week low of $14.39 and a fifty-two week high of $23.00. The business has a fifty day moving average of $16.76 and a 200-day moving average of $18.31. The stock has a market cap of $283.46 million, a price-to-earnings ratio of -42.30 and a beta of 1.12.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share for the quarter, beating 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%. As a group, analysts anticipate that MasterCraft Boat will post 0.62 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Fund L.P. Forager bought 32,378 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average cost of $16.66 per share, for a total transaction of $539,417.48. Following the acquisition, the insider now owns 1,802,975 shares in the company, valued at $30,037,563.50. This represents a 1.83 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders acquired a total of 77,420 shares of company stock worth $1,261,191 over the last ninety days. 4.00% of the stock is owned by company insiders.

Institutional Trading of MasterCraft Boat

Hedge funds have recently made changes to their positions in the company. State of Wyoming acquired a new stake in MasterCraft Boat during the 4th quarter valued at $108,000. Tower Research Capital LLC TRC grew its stake in shares of MasterCraft Boat by 260.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company’s stock valued at $118,000 after acquiring an additional 4,487 shares in the last quarter. SG Americas Securities LLC increased its position in shares of MasterCraft Boat by 10.7% during the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after acquiring an additional 742 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of MasterCraft Boat by 6,422.7% in the first quarter. GAMMA Investing LLC now owns 8,610 shares of the company’s stock worth $148,000 after acquiring an additional 8,478 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in MasterCraft Boat by 7.5% in the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock valued at $149,000 after purchasing an additional 544 shares during the last quarter. Hedge funds and other institutional investors 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.