Mastercraft Boat (NASDAQ:MCFT) Given New $15.00 Price Target at B. Riley

Mastercraft Boat (NASDAQ:MCFT) had its price target cut by B. Riley from $29.00 to $15.00 in a report released on Monday, BenzingaRatingsTable reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Mastercraft Boat’s Q4 2020 earnings at $0.62 EPS, FY2020 earnings at $2.15 EPS, Q1 2021 earnings at $0.35 EPS, Q2 2021 earnings at $0.30 EPS, Q3 2021 earnings at $0.40 EPS, Q4 2021 earnings at $0.51 EPS and FY2021 earnings at $1.54 EPS.

Other research analysts have also recently issued research reports about the company. Raymond James upgraded Mastercraft Boat from a market perform rating to an outperform rating and set a $21.00 price objective on the stock in a research note on Tuesday, February 18th. BidaskClub cut Mastercraft Boat from a sell rating to a strong sell rating in a research note on Friday, March 13th. Zacks Investment Research cut Mastercraft Boat from a buy rating to a hold rating in a research note on Thursday, January 9th. Finally, ValuEngine cut Mastercraft Boat from a hold rating to a sell rating in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $17.50.

Shares of MCFT traded up $0.92 during midday trading on Monday, reaching $7.46. 639,000 shares of the company were exchanged, compared to its average volume of 260,627. The stock has a 50-day moving average price of $14.68 and a 200-day moving average price of $15.50. The company has a market cap of $119.65 million, a price-to-earnings ratio of 7.69 and a beta of 1.55. Mastercraft Boat has a 1-year low of $5.71 and a 1-year high of $26.74. The company has a current ratio of 0.79, a quick ratio of 0.28 and a debt-to-equity ratio of 1.11.

Mastercraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.08. The company had revenue of $99.60 million for the quarter, compared to analysts’ expectations of $86.75 million. Mastercraft Boat had a return on equity of 59.16% and a net margin of 3.95%. The firm’s quarterly revenue was down 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Equities research analysts anticipate that Mastercraft Boat will post 2.44 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in MCFT. Janus Henderson Group PLC lifted its stake in shares of Mastercraft Boat by 658.0% in the fourth quarter. Janus Henderson Group PLC now owns 833,948 shares of the company’s stock worth $13,135,000 after acquiring an additional 723,928 shares in the last quarter. Divisar Capital Management LLC lifted its stake in shares of Mastercraft Boat by 35.3% in the fourth quarter. Divisar Capital Management LLC now owns 1,646,969 shares of the company’s stock worth $25,940,000 after acquiring an additional 429,570 shares in the last quarter. Fairfax Financial Holdings Ltd Can lifted its stake in shares of Mastercraft Boat by 34.1% in the fourth quarter. Fairfax Financial Holdings Ltd Can now owns 532,457 shares of the company’s stock worth $8,381,000 after acquiring an additional 135,295 shares in the last quarter. Landscape Capital Management L.L.C. lifted its stake in shares of Mastercraft Boat by 53.1% in the fourth quarter. Landscape Capital Management L.L.C. now owns 342,886 shares of the company’s stock worth $5,400,000 after acquiring an additional 118,985 shares in the last quarter. Finally, Cadence Capital Management LLC acquired a new position in shares of Mastercraft Boat in the fourth quarter worth about $1,819,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. The company operates in two segments, MasterCraft and NauticStar. It offers sport boats and outboard boats, which are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating.

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