Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Stock Has Consensus Price Target of $24.25 According to Brokerages

Shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) have been assigned a consensus recommendation of “Reduce” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $24.25.

MCFT has been the subject of a number of research analyst reports. Zacks Research cut Mastercraft Boat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. 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. Wall Street Zen raised Mastercraft Boat to a “hold” rating in a research report on Saturday. Truist Financial upped their target price on shares of Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 6th. Finally, Robert W. Baird dropped their price target on Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, September 11th.

Mastercraft Boat Stock Down 0.8%

NASDAQ:MCFT opened at $19.20 on Tuesday. Mastercraft Boat has a 12-month low of $17.19 and a 12-month high of $28.44. The firm has a market capitalization of $467.33 million, a P/E ratio of -959.52 and a beta of 1.11. The stock’s fifty day simple moving average is $22.28 and its 200-day simple moving average is $23.00.

Mastercraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Thursday, September 10th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $101.79 million. During the same period in the prior year, the business posted $0.40 EPS. Mastercraft Boat’s revenue was up 63.4% on a year-over-year basis. As a group, equities research analysts expect that Mastercraft Boat will post 1.66 earnings per share for the current year.

Institutional Investors Weigh In On Mastercraft Boat

A number of hedge funds and other institutional investors have recently modified their holdings of MCFT. BlackRock Inc. bought a new stake in Mastercraft Boat in the 2nd quarter valued at about $36,896,000. Dimensional Fund Advisors LP boosted its holdings in shares of Mastercraft Boat by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 859,835 shares of the company’s stock valued at $17,636,000 after acquiring an additional 28,063 shares in the last quarter. Pillsbury Lake Capital LLC acquired a new stake in Mastercraft Boat during the 2nd quarter worth approximately $12,886,943. Polar Asset Management Partners Inc. acquired a new position in Mastercraft Boat during the 2nd quarter worth about $10,073,000. Finally, De Lisle Partners LLP bought a new stake in shares of Mastercraft Boat in the 2nd quarter valued at $5,573,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for performance-oriented ski and wake boats, and also offers luxury day boats and outboard-powered boats for watersports, cruising and general recreation.

Its primary brands include MasterCraft, which focuses on premium inboard performance boats; Crest, which produces luxury pontoon boats; and Aviara, which offers luxury day boats and related recreational vessels. The company sells its products through a network of dealers serving customers in North America and selected international markets.

MasterCraft traces its origins to 1968 and is headquartered in Vonore, Tennessee.