Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Given Average Rating of "Hold" by Analysts

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT - Get Free Report) has been given an average rating of "Hold" by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $20.00.

A number of research analysts have recently commented on the company. Wall Street Zen raised Mastercraft Boat from a "sell" rating to a "hold" rating in a research note on Saturday, May 10th. Truist Financial upped their target price on Mastercraft Boat from $16.00 to $17.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Robert W. Baird reaffirmed a "neutral" rating and set a $20.00 target price (down previously from $26.00) on shares of Mastercraft Boat in a research note on Friday, April 4th. Baird R W cut Mastercraft Boat from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Raymond James Financial cut their target price on Mastercraft Boat from $24.00 to $21.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th.

Insider Buying and Selling

In other news, major shareholder Fund L.P. Forager acquired 11,172 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The shares were bought at an average price of $15.82 per share, with a total value of $176,741.04. Following the completion of the purchase, the insider now directly owns 1,724,941 shares in the company, valued at $27,288,566.62. This trade represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 77,420 shares of company stock valued at $1,261,191 over the last quarter. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mastercraft Boat

A number of hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new stake in shares of Mastercraft Boat during the 1st quarter worth $236,000. Empowered Funds LLC lifted its holdings in shares of Mastercraft Boat by 7.3% during the 1st quarter. Empowered Funds LLC now owns 87,614 shares of the company's stock valued at $1,509,000 after purchasing an additional 5,958 shares during the last quarter. Systematic Financial Management LP lifted its holdings in shares of Mastercraft Boat by 0.7% during the 1st quarter. Systematic Financial Management LP now owns 1,078,836 shares of the company's stock valued at $18,578,000 after purchasing an additional 7,412 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Mastercraft Boat by 10.4% during the 1st quarter. Wellington Management Group LLP now owns 259,869 shares of the company's stock valued at $4,475,000 after purchasing an additional 24,445 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Mastercraft Boat by 12.7% during the 1st quarter. American Century Companies Inc. now owns 501,656 shares of the company's stock valued at $8,639,000 after purchasing an additional 56,397 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Mastercraft Boat Price Performance

Shares of NASDAQ MCFT opened at $18.12 on Wednesday. The business's 50 day moving average is $17.00 and its two-hundred day moving average is $17.87. Mastercraft Boat has a 1-year low of $14.39 and a 1-year high of $23.00. The stock has a market capitalization of $300.79 million, a P/E ratio of -46.46 and a beta of 1.01.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.12. Mastercraft Boat had a positive return on equity of 3.34% and a negative net margin of 2.46%. The company had revenue of $75.96 million for the quarter, compared to analysts' expectations of $75.15 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The firm's revenue for the quarter was down 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that Mastercraft Boat will post 0.62 earnings per share for the current fiscal year.

Mastercraft Boat Company Profile

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.

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