Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• MasterCraft Boat Holdings received a consensus “Hold” rating from seven covering brokerages: six analysts rated it Hold and one rated it Buy. The average 12-month price target is $25.40.
• Recent analyst actions were mixed but generally cautious, including Truist Financial raising its price target to $28 while maintaining Hold, and Zacks Research downgrading the stock from Strong Buy to Hold.
• Institutional ownership is substantial at 97.64%, while MCFT recently traded at $24.98, near the analyst consensus target and between its $17.19–$28.44 one-year trading range.

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seven brokerages that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $25.40.

A number of equities research analysts have recently issued reports on MCFT shares. Weiss Ratings raised shares of Mastercraft Boat from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Truist Financial boosted their price target on shares of Mastercraft Boat from $25.00 to $28.00 and gave the stock a "hold" rating in a research report on Monday, July 6th. Zacks Research cut shares of Mastercraft Boat from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 17th. Finally, Robert W. Baird set a $30.00 price objective on shares of Mastercraft Boat in a report on Friday, May 8th.

Institutional Investors Weigh In On Mastercraft Boat

A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new position in Mastercraft Boat during the second quarter worth approximately $46,000. State of Alaska Department of Revenue purchased a new stake in Mastercraft Boat in the 4th quarter valued at $42,000. Meeder Asset Management Inc. purchased a new stake in Mastercraft Boat in the 2nd quarter valued at $79,000. State of Wyoming acquired a new stake in shares of Mastercraft Boat in the 2nd quarter worth $61,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Mastercraft Boat in the 4th quarter worth $63,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Mastercraft Boat Stock Performance

NASDAQ MCFT opened at $24.98 on Monday. The business has a fifty day moving average price of $24.17 and a 200 day moving average price of $23.05. The company has a market cap of $406.67 million, a P/E ratio of 36.74 and a beta of 1.06. Mastercraft Boat has a one year low of $17.19 and a one year high of $28.44.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc NASDAQ: MCFT is a designer, manufacturer and marketer of high-performance recreational powerboats. The company's portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.

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