Truist Financial Issues Positive Forecast for Mastercraft Boat (NASDAQ:MCFT) Stock Price

Mastercraft Boat (NASDAQ:MCFT) had its price objective lifted by Truist Financial from $25.00 to $28.00 in a research report report published on Monday morning, Marketbeat reports. Truist Financial currently has a hold rating on the stock.

A number of other research firms have also recently issued reports on MCFT. Zacks Research upgraded shares of Mastercraft Boat from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. Robert W. Baird set a $30.00 price target on shares of Mastercraft Boat in a research note on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Mastercraft Boat from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.40.

Mastercraft Boat Price Performance

MCFT stock opened at $24.17 on Monday. Mastercraft Boat has a 12 month low of $17.19 and a 12 month high of $28.44. The company has a fifty day moving average price of $23.76 and a 200 day moving average price of $22.25. The company has a market cap of $393.49 million, a price-to-earnings ratio of 35.54 and a beta of 1.05.

Mastercraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $75.55 million. During the same period in the previous year, the company earned $0.30 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. Mastercraft Boat has set its FY 2026 guidance at 1.650-1.650 EPS. As a group, analysts anticipate that Mastercraft Boat will post 1.5 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in Mastercraft Boat by 1,252.0% during the third quarter. JPMorgan Chase & Co. now owns 112,930 shares of the company’s stock valued at $2,423,000 after purchasing an additional 104,577 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Mastercraft Boat in the fourth quarter worth $1,355,000. Ellsworth Advisors LLC bought a new stake in shares of Mastercraft Boat during the 4th quarter worth $523,000. UBS Group AG boosted its holdings in shares of Mastercraft Boat by 130.6% during the 4th quarter. UBS Group AG now owns 107,912 shares of the company’s stock worth $2,041,000 after buying an additional 61,120 shares during the period. Finally, Royce & Associates LP grew its stake in Mastercraft Boat by 19.0% in the 4th quarter. Royce & Associates LP now owns 305,466 shares of the company’s stock valued at $5,776,000 after buying an additional 48,764 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

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.