MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Receives Average Rating of “Moderate Buy” from Brokerages

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $21.83.

A number of equities analysts have recently commented on MCFT shares. Stifel Nicolaus cut their price target on shares of MasterCraft Boat from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Truist Financial cut their price target on shares of MasterCraft Boat from $20.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, July 8th. Finally, B. Riley dropped their target price on shares of MasterCraft Boat from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th.

MasterCraft Boat Stock Performance

NASDAQ MCFT opened at $21.88 on Thursday. The firm’s fifty day moving average price is $19.83 and its two-hundred day moving average price is $20.82. The stock has a market cap of $371.52 million, a PE ratio of 9.86 and a beta of 1.63. MasterCraft Boat has a fifty-two week low of $17.31 and a fifty-two week high of $31.70. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.54 and a current ratio of 2.02.

MasterCraft Boat (NASDAQ:MCFT) last posted its earnings results on Wednesday, May 8th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The firm had revenue of $95.71 million for the quarter, compared to analysts’ expectations of $92.32 million. MasterCraft Boat had a net margin of 8.26% and a return on equity of 21.71%. On average, equities analysts expect that MasterCraft Boat will post 0.85 EPS for the current fiscal year.

Insider Transactions at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L acquired 38,462 shares of MasterCraft Boat stock in a transaction on Monday, June 24th. The stock was acquired at an average cost of $19.58 per share, with a total value of $753,085.96. Following the transaction, the insider now owns 3,372,670 shares of the company’s stock, valued at approximately $66,036,878.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 646,508 shares of company stock valued at $13,165,521 over the last three months. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

Several large investors have recently modified their holdings of MCFT. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in MasterCraft Boat by 191.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,250 shares of the company’s stock worth $98,000 after buying an additional 3,450 shares during the period. Comerica Bank boosted its holdings in MasterCraft Boat by 27,130.8% in the 1st quarter. Comerica Bank now owns 56,640 shares of the company’s stock worth $1,343,000 after buying an additional 56,432 shares during the period. Janus Henderson Group PLC boosted its holdings in MasterCraft Boat by 40.5% in the 1st quarter. Janus Henderson Group PLC now owns 13,047 shares of the company’s stock worth $310,000 after buying an additional 3,762 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in MasterCraft Boat by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,998 shares of the company’s stock worth $380,000 after buying an additional 857 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its holdings in MasterCraft Boat by 9.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 45,986 shares of the company’s stock worth $1,091,000 after buying an additional 3,855 shares during the period. Hedge funds and other institutional investors 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.