Mastercraft Boat’s (MCFT) “Neutral” Rating Reiterated at B. Riley Financial

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

A number of other research firms have also recently commented on MCFT. Weiss Ratings cut Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday. Zacks Research cut Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Truist Financial boosted their price target on Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 6th. B Riley reaffirmed a “neutral” rating on shares of Mastercraft Boat in a research report on Tuesday. Finally, Robert W. Baird lowered their price objective on shares of Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, September 11th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Mastercraft Boat has an average rating of “Reduce” and a consensus target price of $24.25.

Mastercraft Boat Trading Down 1.2%

NASDAQ:MCFT traded down $0.24 during trading hours on Wednesday, reaching $19.35. The company had a trading volume of 116,483 shares, compared to its average volume of 162,413. Mastercraft Boat has a 52 week low of $17.19 and a 52 week high of $28.44. The firm has a market cap of $315.02 million, a price-to-earnings ratio of -966.52 and a beta of 1.07. The firm’s 50 day moving average price is $24.03 and its 200-day moving average price is $23.10.

Mastercraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Thursday, September 10th. The company reported $0.67 earnings per share 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 analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. On average, analysts forecast that Mastercraft Boat will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mastercraft Boat

A number of institutional investors have recently bought and sold shares of the stock. Engineers Gate Manager LP lifted its position in shares of Mastercraft Boat by 37.5% during the 2nd quarter. Engineers Gate Manager LP now owns 22,704 shares of the company’s stock valued at $586,000 after buying an additional 6,197 shares in the last quarter. Empowered Funds LLC purchased a new stake in Mastercraft Boat in the 2nd quarter worth approximately $506,000. Pillsbury Lake Capital LLC bought a new stake in Mastercraft Boat during the 2nd quarter worth approximately $12,886,943. Bank of America Corp DE bought a new stake in Mastercraft Boat during the 2nd quarter worth approximately $1,194,000. Finally, Polar Asset Management Partners Inc. purchased a new position in Mastercraft Boat during the second quarter valued at approximately $10,073,000. 97.64% of the stock is owned by institutional investors.

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.