MasterCraft Boat (NASDAQ:MCFT) Price Target Lowered to $41.00 at B. Riley

MasterCraft Boat (NASDAQ:MCFTGet Rating) had its price target cut by B. Riley from $47.00 to $41.00 in a report released on Tuesday, The Fly reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on MCFT. StockNews.com upgraded MasterCraft Boat from a hold rating to a buy rating in a research report on Monday, May 23rd. Robert W. Baird dropped their target price on MasterCraft Boat from $40.00 to $36.00 in a research report on Thursday, May 12th.

Shares of NASDAQ MCFT opened at $21.53 on Tuesday. The business’s 50 day moving average is $23.33 and its two-hundred day moving average is $25.28. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.42 and a quick ratio of 0.50. MasterCraft Boat has a 1-year low of $20.26 and a 1-year high of $29.69. The stock has a market capitalization of $388.49 million, a P/E ratio of 6.41 and a beta of 1.88.

MasterCraft Boat (NASDAQ:MCFTGet Rating) last issued its quarterly earnings data on Wednesday, May 11th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.17. MasterCraft Boat had a return on equity of 56.19% and a net margin of 9.80%. The company had revenue of $186.74 million for the quarter, compared to analysts’ expectations of $166.32 million. During the same period in the previous year, the firm posted $0.97 earnings per share. As a group, equities research analysts anticipate that MasterCraft Boat will post 4.12 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Moors & Cabot Inc. purchased a new stake in shares of MasterCraft Boat in the third quarter valued at approximately $28,000. Group One Trading L.P. boosted its holdings in shares of MasterCraft Boat by 55.9% in the first quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of MasterCraft Boat in the fourth quarter valued at approximately $45,000. Citigroup Inc. boosted its holdings in shares of MasterCraft Boat by 133.9% in the third quarter. Citigroup Inc. now owns 2,098 shares of the company’s stock valued at $53,000 after purchasing an additional 1,201 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of MasterCraft Boat in the first quarter valued at approximately $66,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

MasterCraft Boat Company Profile (Get Rating)

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through three segments: MasterCraft, NauticStar, and Crest. The MasterCraft segment produces recreational performance sport boats and luxury day boats under the MasterCraft and Aviara brands, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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