MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Receives $19.20 Average Price Target from Brokerages

Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) have received an average recommendation of “Hold” from the five research firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $19.20.

A number of equities analysts have recently commented on the company. Truist Financial reiterated a “hold” rating and issued a $15.00 target price on shares of MasterCraft Boat in a report on Friday, August 30th. Stifel Nicolaus reissued a “buy” rating and issued a $22.00 price objective on shares of MasterCraft Boat in a research report on Friday, August 30th. DA Davidson dropped their target price on MasterCraft Boat from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. StockNews.com downgraded MasterCraft Boat from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. Finally, B. Riley dropped their price objective on MasterCraft Boat from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th.

MasterCraft Boat Trading Up 4.2 %

Shares of MCFT opened at $18.11 on Friday. The stock has a market capitalization of $300.81 million, a PE ratio of 8.16 and a beta of 1.61. The company’s fifty day moving average is $19.32 and its 200 day moving average is $20.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.42 and a current ratio of 1.99. MasterCraft Boat has a fifty-two week low of $16.23 and a fifty-two week high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, August 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.18. The firm had revenue of $67.20 million for the quarter, compared to analysts’ expectations of $63.10 million. MasterCraft Boat had a net margin of 2.13% and a return on equity of 9.44%. The business’s revenue was down 59.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 EPS. Sell-side analysts expect that MasterCraft Boat will post 0.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L purchased 24,054 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was purchased at an average price of $19.53 per share, with a total value of $469,774.62. Following the completion of the purchase, the insider now owns 3,289,208 shares of the company’s stock, valued at approximately $64,238,232.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On MasterCraft Boat

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Isthmus Partners LLC raised its holdings in shares of MasterCraft Boat by 0.4% in the second quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock valued at $28,000 after acquiring an additional 532 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of MasterCraft Boat in the 1st quarter valued at about $43,000. Squarepoint Ops LLC purchased a new stake in shares of MasterCraft Boat in the 2nd quarter worth approximately $190,000. CastleKnight Management LP bought a new position in shares of MasterCraft Boat during the fourth quarter valued at approximately $263,000. Finally, Janus Henderson Group PLC increased its holdings in MasterCraft Boat by 40.5% during the first quarter. Janus Henderson Group PLC now owns 13,047 shares of the company’s stock valued at $310,000 after buying an additional 3,762 shares during the period. 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.