Mastercraft Boat (NASDAQ:MCFT) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT)’s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $23.74 and traded as high as $25.12. Mastercraft Boat shares last traded at $24.66, with a volume of 104,260 shares changing hands.

Analysts Set New Price Targets

MCFT has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of Mastercraft Boat from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Robert W. Baird set a $30.00 price objective on shares of Mastercraft Boat in a research report on Friday, May 8th. Zacks Research cut shares of Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Finally, Truist Financial raised their price objective on Mastercraft Boat from $25.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $25.40.

Mastercraft Boat Stock Down 0.1%

The firm has a market capitalization of $401.46 million, a price-to-earnings ratio of 36.27 and a beta of 1.05. The company’s 50 day moving average is $23.74 and its 200 day moving average is $22.68.

Mastercraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. Mastercraft Boat had a net margin of 3.72% and a return on equity of 10.56%. The firm had revenue of $78.21 million during the quarter, compared to the consensus estimate of $75.55 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Mastercraft Boat has set its FY 2026 guidance at 1.650-1.650 EPS. On average, analysts expect that Mastercraft Boat Holdings, Inc. will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Mastercraft Boat

A number of large investors have recently added to or reduced their stakes in MCFT. State of Alaska Department of Revenue bought a new position in Mastercraft Boat during the 4th quarter worth $42,000. State of Wyoming bought a new stake in shares of Mastercraft Boat during the 2nd quarter valued at $61,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Mastercraft Boat during the 4th quarter worth $63,000. Meeder Asset Management Inc. acquired a new stake in shares of Mastercraft Boat during the 4th quarter worth $203,000. Finally, Russell Investments Group Ltd. increased its position in shares of Mastercraft Boat by 12.2% in the fourth quarter. Russell Investments Group Ltd. now owns 10,988 shares of the company’s stock worth $208,000 after purchasing an additional 1,193 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc (NASDAQ: MCFT) is a designer, manufacturer and marketer of high-performance recreational powerboats. The company’s portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.