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

Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) have received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $24.67.

Several research firms recently commented on MCFT. B. Riley cut their target price on shares of MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Truist Financial upped their target price on shares of MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Tuesday, January 9th.

Insider Activity

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L acquired 118,620 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was bought at an average price of $21.84 per share, for a total transaction of $2,590,660.80. Following the purchase, the insider now owns 2,151,676 shares in the company, valued at approximately $46,992,603.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders acquired 347,217 shares of company stock worth $7,430,463. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MasterCraft Boat

A number of hedge funds have recently made changes to their positions in the business. Redmont Wealth Advisors LLC acquired a new position in shares of MasterCraft Boat in the 1st quarter valued at $740,000. Wasatch Advisors LP raised its stake in shares of MasterCraft Boat by 34.2% in the 1st quarter. Wasatch Advisors LP now owns 381,471 shares of the company’s stock valued at $9,048,000 after buying an additional 97,170 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of 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 in the last quarter. CastleKnight Management LP bought a new stake in shares of MasterCraft Boat in the 4th quarter worth about $263,000. Finally, Isthmus Partners LLC grew its holdings in shares of MasterCraft Boat by 5.3% in the 4th quarter. Isthmus Partners LLC now owns 85,227 shares of the company’s stock worth $1,930,000 after purchasing an additional 4,252 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

MasterCraft Boat Price Performance

Shares of MasterCraft Boat stock opened at $21.50 on Tuesday. The firm has a fifty day simple moving average of $22.01 and a 200-day simple moving average of $21.57. The company has a current ratio of 2.11, a quick ratio of 1.58 and a debt-to-equity ratio of 0.24. MasterCraft Boat has a 1-year low of $19.22 and a 1-year high of $31.70. The stock has a market capitalization of $366.15 million, a price-to-earnings ratio of 6.57 and a beta of 1.64.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The business had revenue of $99.48 million during the quarter, compared to analysts’ expectations of $95.53 million. During the same period in the previous year, the company earned $1.16 earnings per share. MasterCraft Boat’s revenue for the quarter was down 37.5% on a year-over-year basis. On average, sell-side analysts expect that MasterCraft Boat will post 1.51 earnings per share for the current year.

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.