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

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) has earned an average recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat.com reports. Five investment 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 issued ratings on the stock in the last year is $20.00.

MCFT has been the subject of a number of analyst reports. Robert W. Baird reiterated a “neutral” rating and set a $20.00 price target (down previously from $26.00) on shares of Mastercraft Boat in a research report on Friday, April 4th. Truist Financial lifted their price target on Mastercraft Boat from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Thursday, May 8th. Baird R W downgraded shares of Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Raymond James Financial reduced their target price on Mastercraft Boat from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Mastercraft Boat from a “sell” rating to a “hold” rating in a report on Saturday, May 10th.

Mastercraft Boat Stock Performance

Shares of MCFT opened at $19.07 on Friday. The firm has a fifty day moving average of $18.23 and a 200-day moving average of $17.80. The company has a market cap of $316.56 million, a price-to-earnings ratio of -48.90 and a beta of 1.01. Mastercraft Boat has a 1 year low of $14.39 and a 1 year high of $23.00.

Mastercraft Boat (NASDAQ:MCFT) last posted its earnings results on Wednesday, May 7th. The company reported $0.30 EPS 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 analysts’ expectations of $75.15 million. Mastercraft Boat had a negative net margin of 2.46% and a positive return on equity of 3.34%. Mastercraft Boat’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 EPS. Analysts predict that Mastercraft Boat will post 0.62 EPS for the current year.

Insider Activity

In other news, major shareholder Fund L.P. Forager acquired 32,378 shares of the business’s stock in a transaction that occurred on 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 acquisition, the insider owned 1,802,975 shares in the company, valued at approximately $30,037,563.50. The trade was a 1.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have acquired 72,762 shares of company stock worth $1,190,901. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MCFT. Jane Street Group LLC purchased a new stake in shares of Mastercraft Boat during the 1st quarter worth about $236,000. Empowered Funds LLC raised its position in Mastercraft Boat by 7.3% during the first quarter. Empowered Funds LLC now owns 87,614 shares of the company’s stock valued at $1,509,000 after acquiring an additional 5,958 shares in the last quarter. Systematic Financial Management LP lifted its stake in Mastercraft Boat by 0.7% in the first quarter. Systematic Financial Management LP now owns 1,078,836 shares of the company’s stock valued at $18,578,000 after acquiring an additional 7,412 shares during the last quarter. Wellington Management Group LLP grew its position 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 acquiring an additional 24,445 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Mastercraft Boat by 12.7% during 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. Hedge funds and other institutional investors 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.