Brokerages Set MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) PT at $24.83

Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) have been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $24.67.

A number of brokerages recently commented on MCFT. B. Riley decreased their target price on MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday. Truist Financial increased their price objective on MasterCraft Boat from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Tuesday, January 9th.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L purchased 118,620 shares of MasterCraft Boat stock in a transaction dated Monday, March 18th. The stock was purchased at an average cost of $21.84 per share, for a total transaction of $2,590,660.80. Following the completion of the acquisition, the insider now directly owns 2,151,676 shares of the company’s stock, valued at $46,992,603.84. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders bought 214,095 shares of company stock worth $4,646,393. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MasterCraft Boat

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its holdings in shares of MasterCraft Boat by 143.8% during the first quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock valued at $25,000 after acquiring an additional 489 shares in the last quarter. Carmel Capital Partners LLC bought a new position in shares of MasterCraft Boat during the third quarter valued at $28,000. Group One Trading L.P. increased its holdings in shares of MasterCraft Boat by 55.9% during the first quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of MasterCraft Boat by 44.7% during the fourth quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock valued at $37,000 after acquiring an additional 443 shares in the last quarter. Finally, Quarry LP bought a new position in shares of MasterCraft Boat during the first quarter valued at $41,000. 97.64% of the stock is currently owned by institutional investors.

MasterCraft Boat Stock Up 0.2 %

Shares of MCFT opened at $20.88 on Tuesday. The firm has a market cap of $355.59 million, a P/E ratio of 6.39 and a beta of 1.64. MasterCraft Boat has a 1 year low of $19.22 and a 1 year high of $31.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.11 and a quick ratio of 1.58. The stock has a 50 day simple moving average of $22.05 and a two-hundred day simple moving average of $21.59.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.17. The company had revenue of $99.48 million during the quarter, compared to the consensus estimate of $95.53 million. MasterCraft Boat had a return on equity of 32.01% and a net margin of 10.66%. The firm’s revenue for the quarter was down 37.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. On average, analysts forecast that MasterCraft Boat will post 1.51 earnings per share for the current fiscal year.

About MasterCraft Boat

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.