Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Receives Average Recommendation of “Hold” from Analysts

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) has been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $20.00.

Several research analysts recently commented on MCFT shares. Baird R W lowered shares of Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird reiterated 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. Raymond James Financial reduced their price objective on shares of Mastercraft Boat from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Truist Financial boosted their price objective on shares of Mastercraft Boat from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Mastercraft Boat from a “sell” rating to a “hold” rating in a research note on Saturday, May 10th.

Insiders Place Their Bets

In other Mastercraft Boat news, major shareholder Fund L.P. Forager acquired 32,378 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were acquired at an average cost of $16.66 per share, with a total value of $539,417.48. Following the acquisition, the insider now directly owns 1,802,975 shares of the company’s stock, valued at approximately $30,037,563.50. The trade was a 1.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders have purchased 77,420 shares of company stock valued at $1,261,191. Insiders own 4.00% of the company’s stock.

Institutional Trading of Mastercraft Boat

Large investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its holdings in shares of Mastercraft Boat by 32.0% in the 4th quarter. Franklin Resources Inc. now owns 254,193 shares of the company’s stock valued at $4,847,000 after acquiring an additional 61,554 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Mastercraft Boat by 9.4% in the 4th quarter. Principal Financial Group Inc. now owns 11,502 shares of the company’s stock valued at $219,000 after acquiring an additional 993 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Mastercraft Boat by 0.6% in the 4th quarter. Northern Trust Corp now owns 133,422 shares of the company’s stock valued at $2,544,000 after acquiring an additional 791 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Mastercraft Boat by 260.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company’s stock valued at $118,000 after acquiring an additional 4,487 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Mastercraft Boat in the 4th quarter valued at $448,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Mastercraft Boat Price Performance

Shares of MCFT opened at $18.36 on Wednesday. Mastercraft Boat has a 1-year low of $14.39 and a 1-year high of $23.00. The company has a 50-day moving average of $17.23 and a 200 day moving average of $17.78. The firm has a market capitalization of $304.78 million, a price-to-earnings ratio of -47.08 and a beta of 1.01.

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