Mastercraft Boat (NASDAQ:MCFT) Receives “Neutral” Rating from B. Riley Financial

Mastercraft Boat (NASDAQ:MCFT)‘s stock had its “neutral” rating reaffirmed by equities research analysts at B. Riley Financial in a note issued to investors on Wednesday, Benzinga reports. They currently have a $22.00 price objective on the stock, down from their previous price objective of $25.00. B. Riley Financial’s price objective points to a potential upside of 13.70% from the company’s current price.

MCFT has been the topic of several other reports. Truist Financial lifted their price target on shares of Mastercraft Boat from $25.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Weiss Ratings lowered shares of Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday. Zacks Research cut shares of Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. B Riley reissued a “neutral” rating on shares of Mastercraft Boat in a research note on Tuesday. Finally, Robert W. Baird cut their price target on shares of Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, September 11th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Mastercraft Boat currently has a consensus rating of “Reduce” and a consensus target price of $24.25.

Mastercraft Boat Price Performance

MCFT stock traded down $0.24 during mid-day trading on Wednesday, hitting $19.35. 116,483 shares of the stock were exchanged, compared to its average volume of 162,413. The business has a fifty day moving average price of $24.03 and a 200 day moving average price of $23.10. Mastercraft Boat has a 12 month low of $17.19 and a 12 month high of $28.44. The stock has a market capitalization of $315.02 million, a price-to-earnings ratio of -966.52 and a beta of 1.07.

Mastercraft Boat (NASDAQ:MCFT) last announced its quarterly earnings data on Thursday, September 10th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $129.94 million for the quarter, compared to analyst estimates of $101.79 million. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%.The company’s revenue was up 63.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS. As a group, equities analysts forecast that Mastercraft Boat will post 1.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Wyoming lifted its holdings in shares of Mastercraft Boat by 5.1% during the first quarter. State of Wyoming now owns 17,736 shares of the company’s stock valued at $364,000 after purchasing an additional 867 shares in the last quarter. Legal & General Group Plc bought a new stake in Mastercraft Boat in the 2nd quarter worth about $46,000. Meeder Asset Management Inc. bought a new stake in Mastercraft Boat in the 2nd quarter worth about $79,000. Engineers Gate Manager LP raised its position in Mastercraft Boat by 37.5% in the 2nd quarter. Engineers Gate Manager LP now owns 22,704 shares of the company’s stock worth $586,000 after buying an additional 6,197 shares during the last quarter. Finally, Empowered Funds LLC raised its position in Mastercraft Boat by 20.8% in the 1st quarter. Empowered Funds LLC now owns 51,648 shares of the company’s stock worth $1,059,000 after buying an additional 8,877 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for MasterCraft-branded performance boats, including wake, surf and ski boats designed for watersports and recreational use.

Its portfolio has also included Crest pontoon boats and Aviara luxury dayboats, serving customers seeking family-oriented boating, cruising and premium recreational vessels. The company sells its boats through a network of independent dealers and supports its products with parts, accessories and related services.

MasterCraft traces its origins to 1968 and is headquartered in Vonore, Tennessee.