Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Stock Has Consensus Target Price of $24.25 According to Analysts

Key Points

• Analysts hold a cautious view: MasterCraft Boat has a consensus “Reduce” rating, with two sell ratings and four holds. The average 12-month price target is $24.25, though several firms recently lowered targets.
• Quarterly results exceeded expectations: The company reported $0.67 in quarterly EPS versus the $0.63 consensus estimate and revenue of $129.94 million versus $101.79 million expected. Revenue increased 63.4% year over year, despite a slightly negative net margin.
• Shares remain below recent averages: MCFT opened at $19.71, compared with 50-day and 200-day moving averages of $22.79 and $23.04, respectively. Institutional investors own approximately 97.64% of the stock.

Shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT - Get Free Report) have earned a consensus recommendation of "Reduce" from the six analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $24.25.

A number of analysts recently commented on MCFT shares. Truist Financial lifted 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. Weiss Ratings lowered Mastercraft Boat from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, September 11th. Zacks Research cut Mastercraft Boat from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 15th. Robert W. Baird cut their price target 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. Finally, B. Riley Financial reissued a "neutral" rating and issued a $22.00 price target (down from $25.00) on shares of Mastercraft Boat in a report on Wednesday, September 16th.

Mastercraft Boat Stock Performance

NASDAQ:MCFT opened at $19.71 on Tuesday. Mastercraft Boat has a 52 week low of $17.19 and a 52 week high of $28.44. The firm has a 50-day moving average price of $22.79 and a two-hundred day moving average price of $23.04. The firm has a market cap of $479.74 million, a price-to-earnings ratio of -985.01 and a beta of 1.11.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) last announced its earnings results on Thursday, September 10th. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.04. The firm had revenue of $129.94 million for the quarter, compared to the consensus estimate of $101.79 million. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%.The company's revenue was up 63.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, sell-side analysts forecast that Mastercraft Boat will post 1.66 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new position in Mastercraft Boat in the second quarter valued at approximately $46,000. Versant Capital Management Inc increased its position in Mastercraft Boat by 196.9% in the third quarter. Versant Capital Management Inc now owns 2,527 shares of the company's stock worth $50,000 after buying an additional 1,676 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Mastercraft Boat in the second quarter valued at $79,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Mastercraft Boat in the second quarter valued at $231,000. Finally, State of Wyoming purchased a new position in shares of Mastercraft Boat during the 2nd quarter valued at $239,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

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.

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