Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Stock Has Consensus Target Price of $22.75

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) has earned an average rating of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $22.75.

Several equities research analysts have recently issued reports on MCFT shares. Zacks Research cut shares of Mastercraft Boat from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Truist Financial reduced their price target on shares of Mastercraft Boat from $28.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, October 23rd. Weiss Ratings lowered Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Wall Street Zen raised shares of Mastercraft Boat to a “hold” rating in a research report on Saturday, October 10th. Finally, B. Riley Financial reissued a “neutral” rating and issued a $22.00 target price (down from $25.00) on shares of Mastercraft Boat in a report on Wednesday, September 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new position in Mastercraft Boat during the 2nd quarter valued at about $46,000. Versant Capital Management Inc grew its holdings in shares of Mastercraft Boat by 196.9% in the third quarter. Versant Capital Management Inc now owns 2,527 shares of the company’s stock valued at $50,000 after purchasing an additional 1,676 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Mastercraft Boat during the second quarter valued at $79,000. State of Alaska Department of Revenue lifted its stake in shares of Mastercraft Boat by 56.5% during the third quarter. State of Alaska Department of Revenue now owns 3,543 shares of the company’s stock valued at $69,000 after acquiring an additional 1,279 shares during the period. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Mastercraft Boat during the second quarter valued at about $231,000. Institutional investors own 97.64% of the company’s stock.

Mastercraft Boat Stock Performance

Shares of MCFT stock opened at $20.36 on Friday. The firm has a fifty day moving average of $20.59 and a 200-day moving average of $22.50. Mastercraft Boat has a 52-week low of $17.19 and a 52-week high of $28.44. The stock has a market cap of $493.12 million, a price-to-earnings ratio of -1,017.49 and a beta of 1.10.

Mastercraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, September 10th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%. The company had revenue of $129.94 million for the quarter, compared to analysts’ expectations of $101.79 million. During the same period last year, the firm earned $0.40 EPS. Mastercraft Boat’s revenue for the quarter was up 63.4% compared to the same quarter last year. On average, sell-side analysts predict that Mastercraft Boat will post 1.66 earnings per share for the current year.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company serves the premium marine market with boats intended for water sports, cruising, fishing and general leisure use.

Its portfolio has included MasterCraft performance ski and wake boats, Crest pontoon boats and Aviara luxury day boats. MasterCraft boats are known for water-sports features such as wake-shaping systems, while the company’s other brands address broader recreational boating needs, including spacious pontoon and luxury day-boat segments.

Founded in 1968, MasterCraft is headquartered in Vonore, Tennessee, and distributes its products through a network of independent dealers in North America and selected international markets.