Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Stock Has Average Price Target of $24.25

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) has received a consensus recommendation of “Reduce” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $24.25.

A number of equities research analysts have issued reports on the company. B. Riley Financial reiterated a “neutral” rating and issued a $22.00 target price (down from $25.00) on shares of Mastercraft Boat in a research note on Wednesday, September 16th. Zacks Research lowered shares of Mastercraft Boat from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Wall Street Zen raised shares of Mastercraft Boat to a “hold” rating in a report on Saturday. Robert W. Baird dropped their price objective on shares of Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, September 11th. Finally, Truist Financial lifted their price objective on shares of Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 6th.

Mastercraft Boat Stock Performance

MCFT opened at $19.36 on Tuesday. The company has a market capitalization of $471.22 million, a P/E ratio of -967.52 and a beta of 1.11. The company has a 50-day moving average of $22.38 and a 200-day moving average of $23.00. Mastercraft Boat has a 1-year low of $17.19 and a 1-year high of $28.44.

Mastercraft Boat (NASDAQ:MCFT) last posted its earnings results on Thursday, September 10th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $129.94 million during the quarter, compared to analyst estimates of $101.79 million. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%. The business’s revenue was up 63.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 earnings per share. As a group, sell-side analysts expect that Mastercraft Boat will post 1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pillsbury Lake Capital LLC bought a new stake in shares of Mastercraft Boat in the 2nd quarter valued at approximately $12,886,943. BlackRock Inc. bought a new position in Mastercraft Boat during the second quarter valued at approximately $36,896,000. Polar Asset Management Partners Inc. bought a new position in Mastercraft Boat during the second quarter valued at approximately $10,073,000. Bank of New York Mellon Corp bought a new position in Mastercraft Boat during the second quarter valued at approximately $1,970,000. Finally, Lazard Asset Management LLC acquired a new stake in Mastercraft Boat in the first quarter valued at approximately $2,248,000. Institutional investors own 97.64% of the company’s stock.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for performance-oriented ski and wake boats, and also offers luxury day boats and outboard-powered boats for watersports, cruising and general recreation.

Its primary brands include MasterCraft, which focuses on premium inboard performance boats; Crest, which produces luxury pontoon boats; and Aviara, which offers luxury day boats and related recreational vessels. The company sells its products through a network of dealers serving customers in North America and selected international markets.

MasterCraft traces its origins to 1968 and is headquartered in Vonore, Tennessee.