Mastercraft Boat (NASDAQ:MCFT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded MasterCraft Boat to “hold,” while the broader analyst consensus remains “Reduce,” with an average price target of $24.25. Four analysts rate the stock Hold and two rate it Sell.
• MCFT opened at $19.36, below its 50-day and 200-day moving averages of $22.38 and $23.00, respectively. The stock has traded between $17.19 and $28.44 over the past year.
• MasterCraft’s latest quarterly results exceeded expectations, with EPS of $0.67 versus $0.63 expected and revenue of $129.94 million versus $101.79 million forecast; revenue increased 63.4% year over year.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) was upgraded by equities researchers at Wall Street Zen to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

MCFT has been the topic of several other reports. B. Riley Financial reiterated a "neutral" rating and set a $22.00 price target (down from $25.00) on shares of Mastercraft Boat in a research report on Wednesday, September 16th. Truist Financial boosted their price objective on shares of Mastercraft Boat from $25.00 to $28.00 and gave the company a "hold" rating in a research note on Monday, July 6th. Robert W. Baird decreased their target price on shares of Mastercraft Boat from $30.00 to $26.00 and set a "neutral" rating on the stock in a report on Friday, September 11th. Zacks Research cut shares of Mastercraft Boat from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 15th. Finally, Weiss Ratings downgraded shares of Mastercraft Boat from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, September 11th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $24.25.

Mastercraft Boat Price Performance

Mastercraft Boat stock opened at $19.36 on Friday. The firm has a market capitalization of $471.22 million, a P/E ratio of -967.52 and a beta of 1.11. Mastercraft Boat has a one year low of $17.19 and a one year high of $28.44. The business has a fifty day moving average price of $22.38 and a 200-day moving average price of $23.00.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) last released its quarterly earnings data on Thursday, September 10th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.04. The company had revenue of $129.94 million for the quarter, compared to analyst estimates of $101.79 million. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%. The firm's revenue for the quarter was up 63.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. Sell-side analysts expect that Mastercraft Boat will post 1.66 earnings per share for the current fiscal year.

Institutional Trading of Mastercraft Boat

A number of large investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new position in shares of Mastercraft Boat in the 2nd quarter worth about $46,000. Versant Capital Management Inc raised its holdings in shares of Mastercraft Boat by 196.9% during the 3rd quarter. Versant Capital Management Inc now owns 2,527 shares of the company's stock valued at $50,000 after buying an additional 1,676 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Mastercraft Boat in the 2nd quarter worth approximately $79,000. Hennion & Walsh Asset Management Inc. bought a new stake in Mastercraft Boat in the 2nd quarter worth approximately $231,000. Finally, State of Wyoming purchased a new stake in Mastercraft Boat in the second quarter worth approximately $239,000. Institutional investors own 97.64% of the company's stock.

About Mastercraft Boat

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.

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