MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Given Average Recommendation of “Hold” by Analysts

Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) have been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $20.00.

A number of brokerages have recently weighed in on MCFT. Truist Financial lifted their price objective on MasterCraft Boat from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Robert W. Baird reiterated a “neutral” rating and issued a $20.00 price target (down previously from $26.00) on shares of MasterCraft Boat in a report on Friday, April 4th. Wall Street Zen raised shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Saturday, May 10th. DA Davidson cut their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Finally, Baird R W downgraded shares of MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th.

Insider Buying and Selling at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Fund L.P. Forager bought 11,172 shares of the stock in a transaction dated Thursday, April 17th. The stock was purchased at an average cost of $15.82 per share, for a total transaction of $176,741.04. Following the completion of the acquisition, the insider now owns 1,724,941 shares of the company’s stock, valued at approximately $27,288,566.62. This trade represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders bought 77,420 shares of company stock valued at $1,261,191. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in MasterCraft Boat by 2.0% in the fourth quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock worth $523,000 after buying an additional 528 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of MasterCraft Boat by 7.5% during the 4th quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock valued at $149,000 after acquiring an additional 544 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of MasterCraft Boat by 10.7% in the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after acquiring an additional 742 shares during the period. Isthmus Partners LLC raised its holdings in shares of MasterCraft Boat by 0.7% during the fourth quarter. Isthmus Partners LLC now owns 118,886 shares of the company’s stock valued at $2,267,000 after purchasing an additional 773 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in MasterCraft Boat by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 43,323 shares of the company’s stock valued at $746,000 after purchasing an additional 790 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

MasterCraft Boat Stock Down 1.8%

Shares of MasterCraft Boat stock opened at $16.86 on Friday. The company’s fifty day simple moving average is $16.70 and its two-hundred day simple moving average is $18.32. MasterCraft Boat has a 12-month low of $14.39 and a 12-month high of $23.00. The firm has a market cap of $279.96 million, a PE ratio of -42.15 and a beta of 1.12.

MasterCraft Boat (NASDAQ:MCFT) last posted its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. The company had revenue of $75.96 million during the quarter, compared to analyst estimates of $75.15 million. During the same period in the prior year, the business posted $0.37 earnings per share. MasterCraft Boat’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, sell-side analysts expect that MasterCraft Boat will post 0.62 earnings per share 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.