Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Stock Rated “Reduce” by Sell-Side Analysts

Shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) have earned an average rating of “Reduce” from the six brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $22.75.

Several equities analysts have commented on MCFT shares. B. Riley Financial reiterated a “neutral” rating and issued a $22.00 price objective (down from $25.00) on shares of Mastercraft Boat in a report on Wednesday, September 16th. Weiss Ratings downgraded shares of Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Truist Financial reduced their price objective on Mastercraft Boat from $28.00 to $22.00 and set a “hold” rating for the company in a report on Friday, October 23rd. Wall Street Zen raised Mastercraft Boat to a “hold” rating in a research report on Saturday, October 10th. Finally, Robert W. Baird decreased their target price on Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, September 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCFT. Inspire Investing LLC increased its position in Mastercraft Boat by 20.7% during the 3rd quarter. Inspire Investing LLC now owns 32,009 shares of the company’s stock worth $634,000 after buying an additional 5,499 shares during the period. SummerHaven Investment Management LLC bought a new stake in shares of Mastercraft Boat in the third quarter valued at about $775,000. State of Alaska Department of Revenue boosted its position in shares of Mastercraft Boat by 56.5% in the third quarter. State of Alaska Department of Revenue now owns 3,543 shares of the company’s stock valued at $69,000 after acquiring an additional 1,279 shares during the period. Versant Capital Management Inc grew its stake in shares of Mastercraft Boat by 196.9% in the third quarter. Versant Capital Management Inc now owns 2,527 shares of the company’s stock valued at $50,000 after acquiring an additional 1,676 shares in the last quarter. Finally, Engineers Gate Manager LP grew its stake in shares of Mastercraft Boat by 37.5% in the second quarter. Engineers Gate Manager LP now owns 22,704 shares of the company’s stock valued at $586,000 after acquiring an additional 6,197 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Mastercraft Boat Stock Up 1.2%

Shares of NASDAQ MCFT opened at $21.49 on Friday. The business’s 50 day moving average price is $20.92 and its two-hundred day moving average price is $22.52. The company has a market cap of $520.49 million, a PE ratio of -1,073.96 and a beta of 1.11. Mastercraft Boat has a twelve month low of $17.19 and a twelve month high of $28.44.

Mastercraft Boat (NASDAQ:MCFT) last issued its earnings results on Thursday, September 10th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%. The company had revenue of $129.94 million during the quarter, compared to the consensus estimate of $101.79 million. During the same period in the previous year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 63.4% compared to the same quarter last year. As a group, research analysts anticipate that Mastercraft Boat will post 1.66 EPS for the current fiscal year.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company serves the premium marine market with boats intended for water sports, cruising, fishing and general leisure use.

Its portfolio has included MasterCraft performance ski and wake boats, Crest pontoon boats and Aviara luxury day boats. MasterCraft boats are known for water-sports features such as wake-shaping systems, while the company’s other brands address broader recreational boating needs, including spacious pontoon and luxury day-boat segments.

Founded in 1968, MasterCraft is headquartered in Vonore, Tennessee, and distributes its products through a network of independent dealers in North America and selected international markets.