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

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) has received a consensus rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $20.00.

Several equities analysts recently issued reports on MCFT shares. Robert W. Baird reissued 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 shares of Mastercraft Boat from a “sell” rating to a “hold” rating in a report on Saturday, May 10th. Baird R W lowered Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Truist Financial lifted their price objective on Mastercraft Boat from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. Finally, Raymond James Financial dropped their target price on shares of Mastercraft Boat from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th.

Mastercraft Boat Stock Down 2.5%

MCFT opened at $19.07 on Friday. Mastercraft Boat has a 52 week low of $14.39 and a 52 week high of $23.00. The business has a 50 day moving average price of $18.23 and a two-hundred day moving average price of $17.80. The company has a market cap of $316.56 million, a PE ratio of -48.90 and a beta of 1.01.

Mastercraft Boat (NASDAQ:MCFT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.12. The firm had revenue of $75.96 million during the quarter, compared to the consensus estimate of $75.15 million. Mastercraft Boat had a positive return on equity of 3.34% and a negative net margin of 2.46%. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period last year, the company earned $0.37 earnings per share. As a group, sell-side analysts expect that Mastercraft Boat will post 0.62 EPS for the current fiscal year.

Insider Transactions at Mastercraft Boat

In other news, major shareholder Fund L.P. Forager bought 32,378 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was acquired at an average cost of $16.66 per share, for a total transaction of $539,417.48. Following the completion of the purchase, the insider owned 1,802,975 shares of the company’s stock, valued at $30,037,563.50. This trade represents a 1.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 72,762 shares of company stock valued at $1,190,901 over the last three months. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mastercraft Boat

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new position in Mastercraft Boat during the 1st quarter valued at $236,000. Empowered Funds LLC raised its stake in shares of Mastercraft Boat by 7.3% in the 1st quarter. Empowered Funds LLC now owns 87,614 shares of the company’s stock valued at $1,509,000 after purchasing an additional 5,958 shares in the last quarter. Systematic Financial Management LP lifted its position in shares of Mastercraft Boat by 0.7% during the first 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. Wellington Management Group LLP grew its stake in Mastercraft Boat by 10.4% in the first quarter. Wellington Management Group LLP now owns 259,869 shares of the company’s stock worth $4,475,000 after purchasing an additional 24,445 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Mastercraft Boat by 12.7% in the first quarter. American Century Companies Inc. now owns 501,656 shares of the company’s stock valued at $8,639,000 after buying an additional 56,397 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Mastercraft Boat Company Profile

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.