Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) have received an average rating of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $25.40.

MCFT has been the subject of a number of recent research reports. Zacks Research downgraded shares of Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Robert W. Baird set a $30.00 target price on Mastercraft Boat in a report on Friday, May 8th. Truist Financial increased their price target on Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Finally, Weiss Ratings upgraded Mastercraft Boat from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Coliseum Capital Management LLC lifted its holdings in shares of Mastercraft Boat by 3.8% in the fourth quarter. Coliseum Capital Management LLC now owns 3,697,422 shares of the company’s stock worth $69,918,000 after acquiring an additional 134,807 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Mastercraft Boat during the 2nd quarter valued at $36,896,000. Dimensional Fund Advisors LP grew its position in Mastercraft Boat by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 859,835 shares of the company’s stock worth $17,636,000 after acquiring an additional 28,063 shares during the last quarter. Pillsbury Lake Capital LLC bought a new stake in Mastercraft Boat during the 2nd quarter worth $12,886,943,000. Finally, Polar Asset Management Partners Inc. acquired a new position in Mastercraft Boat in the 2nd quarter worth about $10,073,000. 97.64% of the stock is owned by institutional investors.

Mastercraft Boat Price Performance

Shares of NASDAQ:MCFT opened at $25.46 on Monday. The firm’s 50 day simple moving average is $24.43 and its 200 day simple moving average is $23.18. Mastercraft Boat has a fifty-two week low of $17.19 and a fifty-two week high of $28.44. The company has a market capitalization of $414.49 million, a price-to-earnings ratio of 37.44 and a beta of 1.06.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc (NASDAQ: MCFT) is a designer, manufacturer and marketer of high-performance recreational powerboats. The company’s portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.