Mastercraft Boat (NASDAQ:MCFT) Stock Jumps 4.7% - What's Next?

Key Points

• Mastercraft Boat shares rose 4.7% to $20.78, though trading volume was 99% below its average.
• Analysts remain cautious: the consensus rating is Hold, with an average price target of $22.75; several firms recently cut their targets.
• The company reported quarterly EPS of $0.50, beating the $0.36 consensus estimate, and revenue of $154.14 million versus analysts’ $67.19 million expectation.

Shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT - Get Free Report) traded up 4.7% on Thursday. The company traded as high as $21.26 and last traded at $20.7750. 2,027 shares were traded during trading, a decline of 99% from the average daily volume of 169,966 shares. The stock had previously closed at $19.85.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial lowered their price target on Mastercraft Boat from $28.00 to $22.00 and set a "hold" rating for the company in a report on Friday, October 23rd. Zacks Research upgraded Mastercraft Boat from a "strong sell" rating to a "hold" rating in a research note on Monday. Robert W. Baird lowered their price target on Mastercraft Boat from $30.00 to $26.00 and set a "neutral" rating for the company in a research report on Friday, September 11th. B. Riley Financial reiterated a "neutral" rating and issued a $22.00 target price (down from $25.00) on shares of Mastercraft Boat in a research report on Wednesday, September 16th. Finally, Wall Street Zen raised shares of Mastercraft Boat to a "hold" rating in a research report on Saturday, October 10th. Six analysts have rated the stock with a Hold rating. According to MarketBeat, Mastercraft Boat presently has an average rating of "Hold" and a consensus target price of $22.75.

Mastercraft Boat Price Performance

The business's 50 day simple moving average is $20.41 and its 200 day simple moving average is $22.48. The company has a market capitalization of $503.53 million, a price-to-earnings ratio of 79.95 and a beta of 1.10.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) last announced its earnings results on Tuesday, November 10th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.14. Mastercraft Boat had a return on equity of 13.42% and a net margin of 1.57%. The firm had revenue of $154.14 million for the quarter, compared to analysts' expectations of $67.19 million. As a group, analysts expect that Mastercraft Boat Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Mastercraft Boat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pillsbury Lake Capital LLC bought a new position in shares of Mastercraft Boat in the second quarter valued at $12,886,943. BlackRock Inc. acquired a new stake in shares of Mastercraft Boat during the 2nd quarter valued at $36,896,000. Polar Asset Management Partners Inc. bought a new stake in shares of Mastercraft Boat during the 2nd quarter worth $10,073,000. Bank of New York Mellon Corp bought a new stake in shares of Mastercraft Boat during the 2nd quarter worth $1,970,000. Finally, CenterBook Partners LP acquired a new position in shares of Mastercraft Boat in the 3rd quarter worth $8,025,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc. designs, manufactures and markets recreational powerboats. Its MasterCraft brand is known for performance boats used for waterskiing, wakeboarding and wakesurfing, while its Crest brand offers pontoon boats. The company's roots date to 1968, when MasterCraft was founded in Tennessee. It serves customers through a network of dealers in the United States and international markets.

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