Mastercraft Boat (NASDAQ:MCFT) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded MasterCraft Boat from “hold” to “buy.” The broader analyst consensus remains “hold,” with a $22.75 average price target.
• Recent quarterly earnings were $0.50 per share, beating the $0.36 consensus estimate.
• Shares opened at $21.89, within a 52-week range of $17.19 to $28.44; the company’s market capitalization was about $529 million.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

MCFT has been the subject of several other reports. Robert W. Baird decreased their price target on Mastercraft Boat from $30.00 to $26.00 and set a "neutral" rating for the company in a report on Friday, September 11th. B. Riley Financial reissued 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. Truist Financial dropped their price objective on shares of Mastercraft Boat from $28.00 to $22.00 and set a "hold" rating on the stock in a research note on Friday, October 23rd. Weiss Ratings upgraded shares of Mastercraft Boat from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. Finally, Zacks Research upgraded shares of Mastercraft Boat from a "strong sell" rating to a "hold" rating in a research note on Monday, November 9th. Six equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $22.75.

Mastercraft Boat Stock Up 1.4%

MCFT opened at $21.89 on Friday. Mastercraft Boat has a 52 week low of $17.19 and a 52 week high of $28.44. The business has a 50 day moving average price of $20.35 and a two-hundred day moving average price of $22.48. The company has a market cap of $529.02 million, a PE ratio of 84.20 and a beta of 1.10.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) last announced its earnings results on Tuesday, November 10th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.14. The company had revenue of $154.14 million for the quarter, compared to the consensus estimate of $67.19 million. Mastercraft Boat had a return on equity of 11.83% and a net margin of 1.57%. As a group, sell-side analysts expect that Mastercraft Boat will post 1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MCFT. Marshall Wace LLP lifted its holdings in Mastercraft Boat by 3.3% in the third quarter. Marshall Wace LLP now owns 181,151 shares of the company's stock valued at $3,587,000 after acquiring an additional 5,871 shares during the period. Royce & Associates LP boosted its position in shares of Mastercraft Boat by 5.1% during the 3rd quarter. Royce & Associates LP now owns 432,737 shares of the company's stock worth $8,568,000 after purchasing an additional 20,840 shares in the last quarter. CenterBook Partners LP purchased a new stake in shares of Mastercraft Boat during the 3rd quarter worth $8,025,000. Inspire Investing LLC grew its stake in shares of Mastercraft Boat by 20.7% during the 3rd quarter. Inspire Investing LLC now owns 32,009 shares of the company's stock worth $634,000 after purchasing an additional 5,499 shares during the period. Finally, SummerHaven Investment Management LLC acquired a new position in shares of Mastercraft Boat during the 3rd quarter worth $775,000. Institutional investors and hedge funds own 97.64% of the company's stock.

About Mastercraft Boat

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.

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