Mastercraft Boat (NASDAQ:MCFT) Stock Price Passes Above 50 Day Moving Average – What’s Next?

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $22.98 and traded as high as $23.24. Mastercraft Boat shares last traded at $22.21, with a volume of 107,770 shares trading hands.

Analyst Ratings Changes

Several brokerages recently issued reports on MCFT. Robert W. Baird set a $30.00 target price on Mastercraft Boat in a research note on Friday, May 8th. Weiss Ratings downgraded Mastercraft Boat from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Truist Financial lifted their target price on Mastercraft Boat from $21.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Finally, Zacks Research raised Mastercraft Boat from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Mastercraft Boat has an average rating of “Hold” and a consensus price target of $24.80.

Mastercraft Boat Trading Down 3.0%

The stock has a 50 day simple moving average of $22.98 and a 200-day simple moving average of $21.56. The firm has a market cap of $361.58 million, a P/E ratio of 32.66 and a beta of 1.07.

Mastercraft Boat (NASDAQ:MCFT) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. Mastercraft Boat had a return on equity of 10.56% and a net margin of 3.72%.The business had revenue of $78.21 million for the quarter, compared to the consensus estimate of $75.55 million. During the same quarter in the previous year, the company posted $0.30 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. Mastercraft Boat has set its FY 2026 guidance at 1.650-1.650 EPS. As a group, equities analysts forecast that Mastercraft Boat Holdings, Inc. will post 1.54 earnings per share for the current fiscal year.

Institutional Trading of Mastercraft Boat

A number of large investors have recently added to or reduced their stakes in MCFT. Empowered Funds LLC increased its stake in Mastercraft Boat by 7.3% in the 1st quarter. Empowered Funds LLC now owns 87,614 shares of the company’s stock worth $1,509,000 after acquiring an additional 5,958 shares during the last quarter. Jane Street Group LLC bought a new stake in Mastercraft Boat in the 1st quarter worth approximately $236,000. Arrowstreet Capital Limited Partnership increased its stake in Mastercraft Boat by 1.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 70,694 shares of the company’s stock worth $1,313,000 after acquiring an additional 1,188 shares during the last quarter. First Trust Advisors LP increased its stake in Mastercraft Boat by 3.1% in the 2nd quarter. First Trust Advisors LP now owns 41,276 shares of the company’s stock worth $767,000 after acquiring an additional 1,259 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Mastercraft Boat in the 2nd quarter worth approximately $684,000. Institutional investors own 97.64% of the company’s stock.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc (NASDAQ: MCFT) is a designer, manufacturer and marketer of high-performance recreational powerboats. The company’s portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.