Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Receives $20.00 Average Price Target from Brokerages

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

A number of equities research analysts have recently issued reports on MCFT shares. Truist Financial increased their target price on Mastercraft Boat from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. Raymond James Financial lowered their price objective on Mastercraft Boat from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Robert W. Baird restated a “neutral” rating and set a $20.00 price objective (down previously from $26.00) on shares of Mastercraft Boat in a research note on Friday, April 4th. Wall Street Zen upgraded Mastercraft Boat from a “sell” rating to a “hold” rating in a research note on Saturday, May 10th. Finally, Baird R W lowered Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th.

Mastercraft Boat Price Performance

Mastercraft Boat stock opened at $17.99 on Wednesday. The stock’s 50-day moving average is $17.11 and its 200-day moving average is $17.83. The company has a market cap of $298.63 million, a price-to-earnings ratio of -46.13 and a beta of 1.01. Mastercraft Boat has a 12 month low of $14.39 and a 12 month high of $23.00.

Mastercraft Boat (NASDAQ:MCFT) last posted its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.12. Mastercraft Boat had a positive return on equity of 3.34% and a negative net margin of 2.46%. The business had revenue of $75.96 million during the quarter, compared to analyst estimates of $75.15 million. During the same quarter last year, the firm earned $0.37 earnings per share. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. Research analysts anticipate that Mastercraft Boat will post 0.62 EPS for the current year.

Insider Transactions at Mastercraft Boat

In other news, major shareholder Fund L.P. Forager bought 4,658 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was bought at an average price of $15.09 per share, for a total transaction of $70,289.22. Following the transaction, the insider now owns 1,702,353 shares in the company, valued at $25,688,506.77. The trade was a 0.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders bought 77,420 shares of company stock worth $1,261,191. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Mastercraft Boat

Several hedge funds have recently made changes to their positions in the stock. Coliseum Capital Management LLC lifted its holdings in shares of Mastercraft Boat by 5.6% in the 4th quarter. Coliseum Capital Management LLC now owns 3,562,615 shares of the company’s stock worth $67,939,000 after purchasing an additional 189,945 shares during the last quarter. Systematic Financial Management LP lifted its holdings in shares of Mastercraft Boat by 0.7% in the 1st quarter. Systematic Financial Management LP now owns 1,078,836 shares of the company’s stock worth $18,578,000 after purchasing an additional 7,412 shares during the last quarter. Divisar Capital Management LLC lifted its holdings in shares of Mastercraft Boat by 29.9% in the 4th quarter. Divisar Capital Management LLC now owns 1,006,805 shares of the company’s stock worth $19,200,000 after purchasing an additional 231,908 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Mastercraft Boat by 7.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 842,945 shares of the company’s stock worth $16,075,000 after purchasing an additional 57,729 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Mastercraft Boat by 12.7% in the 1st quarter. American Century Companies Inc. now owns 501,656 shares of the company’s stock worth $8,639,000 after purchasing an additional 56,397 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

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.