Brokerages Set Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Price Target at $20.00

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFTGet Free Report) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $20.00.

Several equities analysts have issued reports on the stock. Raymond James Financial cut their price target on shares of Mastercraft Boat from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. Truist Financial lifted their price target on shares of Mastercraft Boat from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price target (down from $26.00) on shares of Mastercraft Boat in a report on Friday, April 4th. Baird R W lowered shares of Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Wall Street Zen raised shares of Mastercraft Boat from a “sell” rating to a “hold” rating in a report on Saturday, May 10th.

View Our Latest Report on MCFT

Mastercraft Boat Stock Up 0.3%

Shares of MCFT stock opened at $17.99 on Wednesday. The firm has a market cap of $298.63 million, a price-to-earnings ratio of -46.13 and a beta of 1.01. The company’s 50 day moving average is $17.11 and its 200 day moving average is $17.80. Mastercraft Boat has a 52-week low of $14.39 and a 52-week high of $23.00.

Mastercraft Boat (NASDAQ:MCFTGet Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.12. Mastercraft Boat had a negative net margin of 2.46% and a positive return on equity of 3.34%. The business had revenue of $75.96 million for the quarter, compared to analyst estimates of $75.15 million. During the same period in the previous year, the company earned $0.37 earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. Analysts anticipate that Mastercraft Boat will post 0.62 EPS for the current fiscal year.

Insider Transactions at Mastercraft Boat

In other news, major shareholder Fund L.P. Forager acquired 32,378 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was acquired at an average price of $16.66 per share, for a total transaction of $539,417.48. Following the completion of the transaction, the insider now owns 1,802,975 shares in the company, valued at approximately $30,037,563.50. The trade was a 1.83% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders purchased 77,420 shares of company stock worth $1,261,191. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of Mastercraft Boat in the first quarter worth about $236,000. Empowered Funds LLC raised its position in shares of Mastercraft Boat by 7.3% in the first 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 period. Systematic Financial Management LP increased its stake in shares of Mastercraft Boat by 0.7% during the first quarter. Systematic Financial Management LP now owns 1,078,836 shares of the company’s stock worth $18,578,000 after purchasing an additional 7,412 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Mastercraft Boat by 10.4% during the first quarter. Wellington Management Group LLP now owns 259,869 shares of the company’s stock worth $4,475,000 after purchasing an additional 24,445 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Mastercraft Boat by 12.7% during the first quarter. American Century Companies Inc. now owns 501,656 shares of the company’s stock worth $8,639,000 after purchasing an additional 56,397 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

About Mastercraft Boat

(Get Free Report

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.

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Analyst Recommendations for Mastercraft Boat (NASDAQ:MCFT)

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