In a research report that was published on Friday, the analysts at StockNews.com upgraded their recommendation on MasterCraft Boat (NASDAQ: MCFT), moving it from “buy” to “strong-buy.” The previous rating for the stock was “buy.”
There has been an uptick in the number of new research companies talking about MCFT. Stifel Nicolaus stated their intention to reduce their price objective for MasterCraft Boat from $31.00 to $29.00 in a research note that was published on Thursday, October 20th. Robert W. Baird lowered their price target on MasterCraft Boat from $32.00 to $30.00 in a research note that was published on Friday, September 9th. The new price target can be found here. The message referred to the stock of the company. B. Riley recommended purchasing the company’s stock in a report released on Tuesday, October 25th. Despite this recommendation, the company lowered its price objective for MasterCraft Boat from $37.00 to $31.00. The company also issued a “buy” recommendation regarding the stock. In a report distributed on Thursday, November 10th, Raymond James gave the company an “outperform” rating and increased their price objective on MasterCraft Boat from $29.00 to $31.00. Both of these changes came as a result of the price increase. The findings of the study were presented in their entirety on the website. The stock currently has to buy ratings from four of the five analysts that participate in equity research, and one of those analysts has given the stock a strong buy rating. The stock is currently rated as having a recommendation of “Buy,” and the average price objective has been set at $29.40, as indicated by the data from Bloomberg.com.
When trading started on Friday, the price of a share of MasterCraft Boat was $26.34 per share. The stock’s price is currently trading at $23.50, above its 50-day simple moving average of $22.50 and below its 200-day simple moving average of $22.97. Over the previous year, the cost of a MasterCraft Boat has varied widely, going from $18.49 to $29.69 at its most expensive point. Both the price-to-earnings ratio of the company, which is 9.41, and its beta value, which is 1.84, are very high. At the moment, the total value of the company, as measured by its market capitalization, is equal to $468.96 million. The ratio of debt to equity, the current ratio, and the quick ratio are equal to 0.36, and their respective ranges are from 1.73 to 0.85.
In recent months, numerous hedge funds and institutional investors have been active buyers and sellers of MCFT stock. These buyers and sellers include both institutional and individual investors. Coliseum Capital Management LLC increased the percentage of MasterCraft Boat shares that it owned by 8.3% during the third quarter of 2018. Coliseum Capital Management LLC now holds 1,808,605 shares of the company’s stock, valued at $34,092,000, following the acquisition of an additional 138,206 shares during the most recent quarter. During the second quarter, Divisar Capital Management LLC saw a 3.7% increase in the number of shares it owned in MasterCraft Boat. This increase was due to the company’s continued investment in the company. After making purchases totaling 44,550 shares during the most recent quarter, Divisar Capital Management LLC now owns 1,257,573 shares. Based on the current stock price, this gives the company a market value of $26,472,000. Forager Capital Management LLC increased the proportion of its holdings in MasterCraft Boat by 1.1% during the third quarter. Forager Capital Management LLC now holds 1,154,960 shares following the acquisition of an additional 13,112 in the most recent quarter. The value of the company’s stock as of this writing is $21,771,000. The value of Dimensional Fund Advisors LP’s holdings in MasterCraft Boat increased by 1.9% during the third quarter compared to the previous quarter. After making an additional purchase of 10,241 shares of the company during the most recent quarter, Dimensional Fund Advisors LP now has 549,517 shares in its possession. The current value of these shares, when traded on the market, is $10,359,000. And finally, during the first quarter of this year, Wellington Management Group LLP saw a rise of 39.4% in the quantity of MasterCraft Boat stock it held. During the most recent fiscal period, Wellington Management Group LLP increased its stake in the company by purchasing 105,300 additional shares. This brings the total number of shares they own in the company to 372,400, which has an associated value of $9,165,000. Institutional investors and hedge funds hold 89.33% of the total number of shares in the company, making up the majority of the company’s stock ownership.
MasterCraft Boat Holdings, Inc. conceptualizes, produces, and sells recreational powerboats to customers through its wholly-owned subsidiaries. MasterCraft, Crest, NauticStar, and Aviara are the company’s four different divisions that make up its structure. MasterCraft is a manufacturer of recreational performance sport boats, which are used not only for recreational boating but also for water skiing, wakeboarding, and wake surfing. These boats can accommodate up to 12 people.