MasterCraft Boat Sees Unusually High Options Volume (NASDAQ:MCFT)

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MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) was the recipient of unusually large options trading on Monday. Stock investors acquired 1,400 put options on the company. This is an increase of approximately 1,792% compared to the typical daily volume of 74 put options.

Several research firms have weighed in on MCFT. Truist lifted their target price on MasterCraft Boat from $24.00 to $26.00 in a research note on Wednesday, January 27th. Raymond James raised their price target on shares of MasterCraft Boat from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, February 11th. B. Riley raised their price target on shares of MasterCraft Boat from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, February 11th. Finally, Zacks Investment Research upgraded shares of MasterCraft Boat from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a report on Thursday, February 18th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $27.00.

Shares of MasterCraft Boat stock opened at $26.96 on Tuesday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.47 and a current ratio of 1.01. The firm’s 50-day simple moving average is $27.13 and its 200-day simple moving average is $22.84. MasterCraft Boat has a twelve month low of $4.90 and a twelve month high of $31.88. The firm has a market cap of $510.87 million, a P/E ratio of -21.92 and a beta of 2.26.

MasterCraft Boat (NASDAQ:MCFT) last issued its earnings results on Tuesday, February 9th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.24. The business had revenue of $118.68 million for the quarter, compared to analyst estimates of $115.03 million. MasterCraft Boat had a negative net margin of 6.47% and a positive return on equity of 40.33%. On average, equities analysts forecast that MasterCraft Boat will post 2.39 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in MasterCraft Boat in the third quarter valued at about $33,000. Citigroup Inc. raised its position in shares of MasterCraft Boat by 301.7% during the 4th quarter. Citigroup Inc. now owns 3,579 shares of the company’s stock valued at $89,000 after acquiring an additional 2,688 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of MasterCraft Boat by 294.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 4,377 shares of the company’s stock valued at $77,000 after purchasing an additional 3,268 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of MasterCraft Boat in the 4th quarter worth $230,000. Finally, LPL Financial LLC bought a new position in shares of MasterCraft Boat in the 4th quarter worth $233,000. Hedge funds and other institutional investors own 82.85% of the company’s stock.

About MasterCraft Boat

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.

Further Reading: Net Income

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