Mastercraft Boat (NASDAQ:MCFT) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Mastercraft Boat (NASDAQ:MCFT) to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Other equities analysts have also issued reports about the company. Weiss Ratings lowered Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, September 11th. Truist Financial raised their price objective on Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Robert W. Baird lowered their price target on Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, September 11th. Zacks Research lowered shares of Mastercraft Boat from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Finally, B. Riley Financial reissued a “neutral” rating and set a $22.00 target price (down from $25.00) on shares of Mastercraft Boat in a research report on Wednesday, September 16th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $24.25.

Mastercraft Boat Price Performance

MCFT stock opened at $19.36 on Friday. The firm has a market capitalization of $471.22 million, a P/E ratio of -967.52 and a beta of 1.11. Mastercraft Boat has a 52-week low of $17.19 and a 52-week high of $28.44. The company’s 50 day simple moving average is $22.38 and its 200-day simple moving average is $23.00.

Mastercraft Boat (NASDAQ:MCFT) last announced its quarterly earnings data on Thursday, September 10th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%. The firm had revenue of $129.94 million during the quarter, compared to analyst estimates of $101.79 million. During the same period last year, the company posted $0.40 EPS. The business’s quarterly revenue was up 63.4% compared to the same quarter last year. Sell-side analysts predict that Mastercraft Boat will post 1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Mastercraft Boat

Several hedge funds and other institutional investors have recently made changes to their positions in MCFT. Legal & General Group Plc bought a new position in Mastercraft Boat in the second quarter valued at approximately $46,000. Versant Capital Management Inc grew its stake in Mastercraft Boat by 196.9% in the third quarter. Versant Capital Management Inc now owns 2,527 shares of the company’s stock valued at $50,000 after acquiring an additional 1,676 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Mastercraft Boat in the 2nd quarter valued at approximately $79,000. Hennion & Walsh Asset Management Inc. bought a new stake in Mastercraft Boat during the 2nd quarter worth approximately $231,000. Finally, State of Wyoming acquired a new stake in Mastercraft Boat during the 2nd quarter worth approximately $239,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for performance-oriented ski and wake boats, and also offers luxury day boats and outboard-powered boats for watersports, cruising and general recreation.

Its primary brands include MasterCraft, which focuses on premium inboard performance boats; Crest, which produces luxury pontoon boats; and Aviara, which offers luxury day boats and related recreational vessels. The company sells its products through a network of dealers serving customers in North America and selected international markets.

MasterCraft traces its origins to 1968 and is headquartered in Vonore, Tennessee.