Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Receives $26.33 Consensus Target Price from Analysts

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) has earned an average recommendation of “Reduce” from the seven research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $24.25.

A number of equities analysts have issued reports on the stock. Robert W. Baird reduced their price target on shares of Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, September 11th. B. Riley Financial reaffirmed a “neutral” rating and issued a $22.00 price objective (down from $25.00) on shares of Mastercraft Boat in a report on Wednesday. Weiss Ratings lowered shares of Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, September 11th. B Riley reissued a “neutral” rating on shares of Mastercraft Boat in a report on Tuesday. Finally, Truist Financial boosted their target price on shares of Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 6th.

Hedge Funds Weigh In On Mastercraft Boat

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Mastercraft Boat in the second quarter valued at approximately $36,896,000. Dimensional Fund Advisors LP grew its stake in shares of 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 purchasing an additional 28,063 shares during the period. Pillsbury Lake Capital LLC acquired a new stake in shares of Mastercraft Boat during the 2nd quarter worth approximately $12,886,943. Polar Asset Management Partners Inc. purchased a new position in shares of Mastercraft Boat during the 2nd quarter valued at approximately $10,073,000. Finally, Royce & Associates LP increased its holdings in shares of Mastercraft Boat by 19.0% during the 4th quarter. Royce & Associates LP now owns 305,466 shares of the company’s stock valued at $5,776,000 after purchasing an additional 48,764 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Mastercraft Boat Stock Performance

Shares of MCFT stock opened at $20.13 on Friday. The stock’s 50-day simple moving average is $23.87 and its 200-day simple moving average is $23.07. The firm has a market capitalization of $327.72 million, a PE ratio of -1,006.00 and a beta of 1.07. Mastercraft Boat has a fifty-two week low of $17.19 and a fifty-two week high of $28.44.

Mastercraft Boat (NASDAQ:MCFT) last released its earnings results on Thursday, September 10th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $129.94 million during the quarter, compared to the consensus estimate of $101.79 million. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%.The company’s revenue was up 63.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. Sell-side analysts forecast that Mastercraft Boat will post 1.65 earnings per share for the current year.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for MasterCraft-branded performance boats, including wake, surf and ski boats designed for watersports and recreational use.

Its portfolio has also included Crest pontoon boats and Aviara luxury dayboats, serving customers seeking family-oriented boating, cruising and premium recreational vessels. The company sells its boats through a network of independent dealers and supports its products with parts, accessories and related services.

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