B.Riley FBR Maintains Their Buy Rating on MasterCraft Boat Holdings Inc (MCFT)


In a report released today, Eric Wold from B.Riley FBR maintained a Buy rating on MasterCraft Boat Holdings Inc (MCFT), with a price target of $43. The company’s shares closed yesterday at $23.37.

Wold commented:

“We are revisiting MasterCraft Boat Holdings (MCFT—Buy, $43 PT) ahead of the company’s 2Q19 earnings report this afternoon (2/7 post-close). Although we already provided a positive MCFT preview coming out of the the much stronger-than-anticipated 2Q19 results reported by PT) pre-market on Wednesday (2/6) further boosted our confidence in the potential for a similar beat-and-raise out of MCFT. With that in mind, we continue to recommend adding to positions in MCFT with an unchanged $43 PT—and especially so ahead of Thursday’s results.”

According to TipRanks.com, Wold is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.5% and a 38.1% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and AMC Entertainment.

MasterCraft Boat Holdings Inc has an analyst consensus of Moderate Buy, with a price target consensus of $35.

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Based on MasterCraft Boat Holdings Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $8.47 million. In comparison, last year the company had a net profit of $8.01 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MCFT in relation to earlier this year.

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Mastercraft Boat Holdings, Inc. engages in the design, manufacture, and sale of boats. It operates through the MasterCraft and NauticStar segment. The MasterCraft segment offers recreational performance boats used for water skiing, wakeboarding, and wake surfing activities.

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