Analysts Set MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Target Price at $20.00

Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT - Get Free Report) have received a consensus recommendation of "Hold" from the seven brokerages that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $20.00.

A number of research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of 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 restated a "neutral" rating and set a $20.00 price target (down from $26.00) on shares of MasterCraft Boat in a research report on Friday, April 4th. Baird R W lowered shares of MasterCraft Boat from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. B. Riley upgraded shares of MasterCraft Boat to a "hold" rating in a research report on Wednesday, February 12th. Finally, Raymond James reduced their price target on shares of MasterCraft Boat from $24.00 to $21.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th.

MasterCraft Boat Trading Up 0.5%

Shares of NASDAQ:MCFT traded up $0.09 during mid-day trading on Friday, reaching $16.86. The company had a trading volume of 5,677 shares, compared to its average volume of 128,012. MasterCraft Boat has a one year low of $14.39 and a one year high of $23.00. The firm has a market cap of $279.96 million, a price-to-earnings ratio of -42.14 and a beta of 1.12. The company's 50-day moving average price is $16.68 and its 200-day moving average price is $18.21.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.12. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. The business had revenue of $75.96 million during the quarter, compared to analyst estimates of $75.15 million. During the same period in the previous year, the business earned $0.37 EPS. MasterCraft Boat's revenue was down 9.5% compared to the same quarter last year. On average, research analysts anticipate that MasterCraft Boat will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Fund L.P. Forager bought 4,658 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was bought at an average cost of $15.09 per share, for a total transaction of $70,289.22. Following the completion of the transaction, the insider now owns 1,702,353 shares of the company's stock, valued at approximately $25,688,506.77. The trade was a 0.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders purchased 77,420 shares of company stock worth $1,261,191. Corporate insiders own 4.00% of the company's stock.

Institutional Trading of MasterCraft Boat

Several hedge funds have recently added to or reduced their stakes in MCFT. Divisar Capital Management LLC lifted its stake in MasterCraft Boat by 29.9% in the fourth quarter. Divisar Capital Management LLC now owns 1,006,805 shares of the company's stock worth $19,200,000 after purchasing an additional 231,908 shares during the last quarter. Coliseum Capital Management LLC lifted its stake in MasterCraft Boat by 5.6% in the fourth quarter. Coliseum Capital Management LLC now owns 3,562,615 shares of the company's stock worth $67,939,000 after purchasing an additional 189,945 shares during the last quarter. LHM Inc. lifted its stake in MasterCraft Boat by 106.8% in the first quarter. LHM Inc. now owns 177,406 shares of the company's stock worth $3,055,000 after purchasing an additional 91,616 shares during the last quarter. Franklin Resources Inc. lifted its stake in MasterCraft Boat by 32.0% in the fourth quarter. Franklin Resources Inc. now owns 254,193 shares of the company's stock worth $4,847,000 after purchasing an additional 61,554 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in MasterCraft Boat by 131.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 108,193 shares of the company's stock worth $1,863,000 after purchasing an additional 61,399 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

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.