MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Receives $24.83 Average Target Price from Brokerages

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $24.67.

A number of analysts have issued reports on the stock. B. Riley reduced 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 note on Tuesday. Truist Financial lifted their target price on shares of MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Tuesday, January 9th.

Insider Transactions at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L acquired 11,308 shares of MasterCraft Boat stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average cost of $21.63 per share, for a total transaction of $244,592.04. Following the completion of the purchase, the insider now owns 2,162,984 shares of the company’s stock, valued at $46,785,343.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders bought 214,095 shares of company stock worth $4,646,393. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On MasterCraft Boat

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in MasterCraft Boat by 143.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock valued at $25,000 after purchasing an additional 489 shares during the last quarter. Carmel Capital Partners LLC acquired a new position in MasterCraft Boat during the 3rd quarter valued at $28,000. Quarry LP acquired a new position in MasterCraft Boat during the 1st quarter valued at $41,000. Group One Trading L.P. raised its stake in MasterCraft Boat by 55.9% during the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of MasterCraft Boat by 44.7% during the 4th quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock valued at $37,000 after acquiring an additional 443 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

MasterCraft Boat Stock Performance

Shares of MCFT opened at $20.88 on Tuesday. The company’s 50 day moving average price is $22.05 and its 200 day moving average price is $21.59. MasterCraft Boat has a 52 week low of $19.22 and a 52 week high of $31.70. The company has a market capitalization of $355.59 million, a PE ratio of 6.39 and a beta of 1.64. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.58 and a current ratio of 2.11.

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