MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Receives $20.40 Average Price Target from Brokerages

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) has received a consensus rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $20.40.

A number of research firms have weighed in on MCFT. Truist Financial reduced their price objective on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird reissued a “neutral” rating and set a $20.00 price target (down previously from $26.00) on shares of MasterCraft Boat in a research report on Friday, April 4th. B. Riley raised MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Baird R W lowered MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, DA Davidson decreased their price target on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, February 10th.

MasterCraft Boat Stock Performance

MCFT stock opened at $15.80 on Friday. The firm has a 50 day moving average price of $17.65 and a 200-day moving average price of $18.47. MasterCraft Boat has a 52-week low of $14.39 and a 52-week high of $23.00. The firm has a market capitalization of $264.70 million, a price-to-earnings ratio of -39.50 and a beta of 1.34.

MasterCraft Boat (NASDAQ:MCFT) last released its earnings results on Thursday, February 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. As a group, sell-side analysts forecast that MasterCraft Boat will post 0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MasterCraft Boat

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming purchased a new stake in MasterCraft Boat during the fourth quarter valued at approximately $108,000. Tower Research Capital LLC TRC raised its holdings in MasterCraft Boat by 260.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company’s stock valued at $118,000 after acquiring an additional 4,487 shares during the period. SG Americas Securities LLC lifted its position in shares of MasterCraft Boat by 10.7% in the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock valued at $146,000 after acquiring an additional 742 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of MasterCraft Boat by 6,422.7% in the first quarter. GAMMA Investing LLC now owns 8,610 shares of the company’s stock worth $148,000 after acquiring an additional 8,478 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of MasterCraft Boat by 7.5% during the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock worth $149,000 after purchasing an additional 544 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

About MasterCraft Boat

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.