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Mastercraft Boat (NASDAQ:MCFT) Share Price Crosses Above 50-Day Moving Average - What's Next?

Mastercraft Boat logo with Consumer Discretionary background

Key Points

  • Mastercraft Boat's stock price has surpassed its 50-day moving average of $18.56, reaching $20.07 with significant trading volume of 123,354 shares.
  • Analysts have mixed opinions on Mastercraft Boat, with six hold ratings and two buy ratings, and a consensus target price of $20.00.
  • The company reported $0.30 EPS for the last quarter, exceeding expectations, despite a 9.5% decrease in revenue compared to the previous year.
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Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $18.56 and traded as high as $20.92. Mastercraft Boat shares last traded at $20.07, with a volume of 123,354 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MCFT shares. Wall Street Zen upgraded shares of Mastercraft Boat from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Robert W. Baird reiterated a "neutral" rating and set a $20.00 price target (down from $26.00) on shares of Mastercraft Boat in a report on Friday, April 4th. Truist Financial boosted their price objective on shares of Mastercraft Boat from $16.00 to $17.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Raymond James Financial lowered their price objective 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. Finally, Baird R W cut shares of Mastercraft Boat from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.00.

Get Our Latest Stock Analysis on Mastercraft Boat

Mastercraft Boat Stock Performance

The firm has a market cap of $333.26 million, a price-to-earnings ratio of -51.46 and a beta of 1.01. The stock's 50 day simple moving average is $18.56 and its 200-day simple moving average is $17.86.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.12. Mastercraft Boat had a negative net margin of 2.46% and a positive return on equity of 3.34%. The business had revenue of $75.96 million for the quarter, compared to analyst estimates of $75.15 million. During the same quarter in the prior year, the business posted $0.37 EPS. Mastercraft Boat's revenue for the quarter was down 9.5% compared to the same quarter last year. On average, analysts expect that Mastercraft Boat Holdings, Inc. will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling at Mastercraft Boat

In other Mastercraft Boat news, major shareholder Fund L.P. Forager acquired 32,378 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were purchased at an average price of $16.66 per share, for a total transaction of $539,417.48. Following the completion of the purchase, the insider directly owned 1,802,975 shares of the company's stock, valued at $30,037,563.50. The trade was a 1.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is owned by insiders.

Institutional Trading of Mastercraft Boat

A number of hedge funds have recently added to or reduced their stakes in MCFT. American Century Companies Inc. boosted its holdings in Mastercraft Boat by 4.0% during the fourth quarter. American Century Companies Inc. now owns 445,259 shares of the company's stock worth $8,491,000 after buying an additional 17,118 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Mastercraft Boat during the fourth quarter worth $448,000. JPMorgan Chase & Co. boosted its holdings in Mastercraft Boat by 7.5% during the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company's stock worth $149,000 after buying an additional 544 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Mastercraft Boat by 32.0% during the fourth quarter. Franklin Resources Inc. now owns 254,193 shares of the company's stock valued at $4,847,000 after purchasing an additional 61,554 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Mastercraft Boat during the fourth quarter valued at $463,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Mastercraft Boat Company Profile

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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