Analysts Set MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Price Target at $20.00

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) has been given an average rating of “Hold” by the seven research firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $20.00.

Several analysts recently issued reports on MCFT shares. Robert W. Baird reiterated a “neutral” rating and issued a $20.00 price target (down from $26.00) on shares of MasterCraft Boat in a report on Friday, April 4th. Wall Street Zen raised shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Saturday, May 10th. Baird R W cut shares of MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Truist Financial upped their price objective on shares of MasterCraft Boat from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Thursday, May 8th. Finally, DA Davidson decreased their price objective on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, February 10th.

Insider Transactions at MasterCraft Boat

In related news, major shareholder Fund L.P. Forager purchased 4,658 shares of MasterCraft Boat stock in a transaction dated Tuesday, April 15th. The shares were acquired at an average price of $15.09 per share, with a total value of $70,289.22. Following the completion of the transaction, the insider now owns 1,702,353 shares of the company’s stock, valued at approximately $25,688,506.77. This trade represents a 0.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have purchased 77,420 shares of company stock valued at $1,261,191. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On MasterCraft Boat

Large investors have recently bought and sold shares of the business. State of Wyoming bought a new position in MasterCraft Boat in the fourth quarter worth about $108,000. Tower Research Capital LLC TRC lifted its holdings in MasterCraft Boat by 260.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company’s stock worth $118,000 after acquiring an additional 4,487 shares during the last quarter. SG Americas Securities LLC lifted its holdings in MasterCraft Boat by 10.7% in the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after acquiring an additional 742 shares during the last quarter. GAMMA Investing LLC lifted its holdings in MasterCraft Boat by 6,422.7% in the first quarter. GAMMA Investing LLC now owns 8,610 shares of the company’s stock worth $148,000 after acquiring an additional 8,478 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 544 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

MasterCraft Boat Trading Down 1.8%

Shares of NASDAQ MCFT opened at $16.86 on Friday. MasterCraft Boat has a 12-month low of $14.39 and a 12-month high of $23.00. The company has a market cap of $279.96 million, a P/E ratio of -42.15 and a beta of 1.12. The stock has a fifty day moving average price of $16.69 and a 200 day moving average price of $18.23.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.12. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. The firm had revenue of $75.96 million during the quarter, compared to the consensus estimate of $75.15 million. During the same period in the prior year, the firm earned $0.37 EPS. The firm’s quarterly revenue 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.

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.