Mastercraft Boat (NASDAQ:MCFT) Stock Jumps 4.7% – What’s Next?

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) shares were up 4.7% on Thursday. The company traded as high as $21.26 and last traded at $20.7750. Approximately 2,027 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 169,966 shares. The stock had previously closed at $19.85.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial reduced their price objective on shares of Mastercraft Boat from $28.00 to $22.00 and set a “hold” rating for the company in a research note on Friday, October 23rd. Wall Street Zen upgraded shares of Mastercraft Boat to a “hold” rating in a report on Saturday, October 10th. Robert W. Baird reduced their price target on shares of Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, September 11th. B. Riley Financial reaffirmed a “neutral” rating and issued a $22.00 price objective (down from $25.00) on shares of Mastercraft Boat in a research note on Wednesday, September 16th. Finally, Zacks Research raised shares of Mastercraft Boat from a “strong sell” rating to a “hold” rating in a research note on Monday. Six analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.75.

Mastercraft Boat Price Performance

The firm’s fifty day moving average is $20.41 and its 200 day moving average is $22.48. The firm has a market capitalization of $503.53 million, a price-to-earnings ratio of 79.95 and a beta of 1.10.

Mastercraft Boat (NASDAQ:MCFT) last released its earnings results on Tuesday, November 10th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.14. The company had revenue of $154.14 million during the quarter, compared to the consensus estimate of $67.19 million. Mastercraft Boat had a net margin of 1.57% and a return on equity of 13.42%. Equities research analysts forecast that Mastercraft Boat Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Institutional Trading of Mastercraft Boat

Several hedge funds and other institutional investors have recently modified their holdings of MCFT. Legal & General Group Plc acquired a new stake in Mastercraft Boat during the second quarter valued at $46,000. Versant Capital Management Inc increased its position in Mastercraft Boat by 196.9% in the 3rd quarter. Versant Capital Management Inc now owns 2,527 shares of the company’s stock worth $50,000 after purchasing an additional 1,676 shares during the last quarter. State of Alaska Department of Revenue increased its position in Mastercraft Boat by 56.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,543 shares of the company’s stock worth $69,000 after purchasing an additional 1,279 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Mastercraft Boat in the 2nd quarter worth about $79,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Mastercraft Boat during the 2nd quarter worth about $231,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc. designs, manufactures and markets recreational powerboats. Its MasterCraft brand is known for performance boats used for waterskiing, wakeboarding and wakesurfing, while its Crest brand offers pontoon boats. The company’s roots date to 1968, when MasterCraft was founded in Tennessee. It serves customers through a network of dealers in the United States and international markets.