Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Given Consensus Rating of “Hold” by Analysts

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) has earned an average rating of “Hold” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $20.00.

Several analysts have issued reports on MCFT shares. Wall Street Zen raised Mastercraft Boat from a “sell” rating to a “hold” rating in a research note on Saturday, May 10th. Raymond James Financial cut their price objective on shares of Mastercraft Boat from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 target price (down previously from $26.00) on shares of Mastercraft Boat in a report on Friday, April 4th. Truist Financial boosted their price target on shares of Mastercraft Boat from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Finally, Baird R W cut Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th.

Insider Buying and Selling

In other news, major shareholder Fund L.P. Forager bought 32,378 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was acquired at an average cost of $16.66 per share, with a total value of $539,417.48. Following the completion of the acquisition, the insider owned 1,802,975 shares of the company’s stock, valued at approximately $30,037,563.50. This represents a 1.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have bought 77,420 shares of company stock worth $1,261,191. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Mastercraft Boat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCFT. JPMorgan Chase & Co. raised its stake in shares of Mastercraft Boat by 7.5% in the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock worth $149,000 after purchasing an additional 544 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in Mastercraft Boat by 1.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 43,323 shares of the company’s stock worth $746,000 after buying an additional 790 shares in the last quarter. Northern Trust Corp raised its position in Mastercraft Boat by 0.6% in the 4th quarter. Northern Trust Corp now owns 133,422 shares of the company’s stock worth $2,544,000 after buying an additional 791 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Mastercraft Boat by 3.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,812 shares of the company’s stock valued at $474,000 after acquiring an additional 808 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Mastercraft Boat by 8.2% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 13,200 shares of the company’s stock valued at $227,000 after acquiring an additional 1,000 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Mastercraft Boat Stock Performance

Shares of MCFT stock opened at $20.23 on Friday. Mastercraft Boat has a 52-week low of $14.39 and a 52-week high of $23.00. The business’s fifty day moving average is $18.09 and its 200 day moving average is $17.80. The company has a market capitalization of $335.82 million, a PE ratio of -51.87 and a beta of 1.01.

Mastercraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.12. Mastercraft Boat had a negative net margin of 2.46% and a positive return on equity of 3.34%. The company had revenue of $75.96 million for the quarter, compared to analysts’ expectations of $75.15 million. During the same period in the prior year, the business earned $0.37 earnings per share. Mastercraft Boat’s revenue for the quarter was down 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Mastercraft Boat will post 0.62 EPS for the current fiscal year.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through MasterCraft, Crest, and Aviara segments. The MasterCraft segment produces premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating.