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

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) has earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $24.83.

A number of equities research analysts recently issued reports on MCFT shares. Truist Financial lifted their target price on MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. B. Riley decreased their target price on shares of MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday.

Insider Activity at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L bought 118,620 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average price of $21.84 per share, with a total value of $2,590,660.80. Following the completion of the purchase, the insider now directly owns 2,151,676 shares of the company’s stock, valued at approximately $46,992,603.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 214,095 shares of company stock worth $4,646,393 over the last quarter. Company insiders own 2.50% of the company’s stock.

Institutional Trading of MasterCraft Boat

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in MasterCraft Boat by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 82,990 shares of the company’s stock worth $2,042,000 after buying an additional 1,042 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of MasterCraft Boat by 121.7% during the first quarter. American Century Companies Inc. now owns 37,043 shares of the company’s stock worth $912,000 after purchasing an additional 20,334 shares in the last quarter. Group One Trading L.P. increased its position in shares of MasterCraft Boat by 55.9% in the first quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares during the last quarter. MetLife Investment Management LLC raised its stake in MasterCraft Boat by 67.7% in the first quarter. MetLife Investment Management LLC now owns 8,982 shares of the company’s stock valued at $221,000 after purchasing an additional 3,626 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in MasterCraft Boat by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 539,870 shares of the company’s stock valued at $13,287,000 after purchasing an additional 5,852 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

MasterCraft Boat Price Performance

Shares of MCFT traded down $0.40 during mid-day trading on Tuesday, hitting $21.10. 105,549 shares of the company traded hands, compared to its average volume of 119,754. The company has a current ratio of 2.11, a quick ratio of 1.58 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average of $22.03 and a 200 day moving average of $21.61. MasterCraft Boat has a one year low of $19.22 and a one year high of $31.70. The stock has a market capitalization of $359.33 million, a price-to-earnings ratio of 6.45 and a beta of 1.64.

MasterCraft Boat (NASDAQ:MCFT) last issued its earnings results on Wednesday, February 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.17. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The company had revenue of $99.48 million for the quarter, compared to analyst estimates of $95.53 million. During the same quarter last year, the firm earned $1.16 EPS. The company’s revenue for the quarter was down 37.5% on a year-over-year basis. As a group, equities analysts expect that MasterCraft Boat will post 1.51 earnings per share for the current fiscal year.

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.