Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Stock Has Average Target Price of $24.25

Shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) have been assigned an average recommendation of “Reduce” from the six analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $24.25.

Several equities research analysts recently commented on MCFT shares. Weiss Ratings lowered Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Truist Financial increased their price target on Mastercraft Boat from $25.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 6th. 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 research note on Wednesday, September 16th. Zacks Research lowered shares of Mastercraft Boat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. Finally, 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 report on Friday, September 11th.

Mastercraft Boat Trading Up 0.4%

Shares of MCFT opened at $19.50 on Tuesday. The company has a market capitalization of $474.63 million, a PE ratio of -974.51 and a beta of 1.11. The stock’s 50-day moving average price is $22.47 and its two-hundred day moving average price is $23.03. Mastercraft Boat has a 12 month low of $17.19 and a 12 month high of $28.44.

Mastercraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Thursday, September 10th. The company reported $0.67 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $101.79 million. During the same period last year, the company earned $0.40 earnings per share. The firm’s revenue was up 63.4% compared to the same quarter last year. Equities research analysts predict that Mastercraft Boat will post 1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

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