MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Receives $24.00 Average Target Price from Analysts

Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $24.00.

Several equities analysts have weighed in on the company. B. Riley cut their target price on MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Stifel Nicolaus cut their target price on MasterCraft Boat from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th.

MasterCraft Boat Price Performance

MasterCraft Boat stock opened at $17.61 on Friday. The business’s 50-day simple moving average is $20.11 and its 200 day simple moving average is $21.19. The stock has a market cap of $299.04 million, a price-to-earnings ratio of 7.93 and a beta of 1.63. MasterCraft Boat has a 12-month low of $17.55 and a 12-month high of $31.70. The company has a quick ratio of 1.54, a current ratio of 2.02 and a debt-to-equity ratio of 0.23.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.09. The business had revenue of $95.71 million for the quarter, compared to analysts’ expectations of $92.32 million. MasterCraft Boat had a return on equity of 21.71% and a net margin of 8.26%. As a group, research analysts anticipate that MasterCraft Boat will post 0.85 earnings per share for the current year.

Insider Transactions at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 60,000 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were bought at an average price of $21.84 per share, with a total value of $1,310,400.00. Following the completion of the transaction, the insider now directly owns 2,224,284 shares in the company, valued at approximately $48,578,362.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired a total of 850,938 shares of company stock valued at $17,504,582 over the last 90 days. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On MasterCraft Boat

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in MasterCraft Boat by 11.2% in the 4th quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock valued at $13,360,000 after buying an additional 59,200 shares during the last quarter. Wasatch Advisors LP grew its stake in MasterCraft Boat by 34.2% in the first quarter. Wasatch Advisors LP now owns 381,471 shares of the company’s stock valued at $9,048,000 after purchasing an additional 97,170 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in MasterCraft Boat by 0.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock valued at $4,723,000 after purchasing an additional 617 shares in the last quarter. AQR Capital Management LLC grew its stake in MasterCraft Boat by 29.6% in the third quarter. AQR Capital Management LLC now owns 412,977 shares of the company’s stock valued at $9,176,000 after purchasing an additional 94,420 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in MasterCraft Boat by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 70,296 shares of the company’s stock valued at $1,592,000 after purchasing an additional 1,441 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

About MasterCraft Boat

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.