Brokerages Set MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Price Target at $21.83

Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $21.83.

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

Insider Activity at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L acquired 22,484 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were purchased at an average price of $20.36 per share, with a total value of $457,774.24. Following the completion of the transaction, the insider now owns 2,517,736 shares in the company, valued at $51,261,104.96. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders have acquired 646,508 shares of company stock valued at $13,165,521. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MasterCraft Boat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP raised its position in shares of 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 during the period. Wellington Management Group LLP raised its position in shares of MasterCraft Boat by 11.2% in the fourth quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock valued at $13,360,000 after purchasing an additional 59,200 shares during the period. Empowered Funds LLC raised its position in shares of MasterCraft Boat by 28.1% in the first quarter. Empowered Funds LLC now owns 183,617 shares of the company’s stock valued at $4,355,000 after purchasing an additional 40,302 shares during the period. Victory Capital Management Inc. raised its position in shares of 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 during the period. Finally, Quest Partners LLC bought a new position in shares of MasterCraft Boat in the fourth quarter valued at approximately $393,000. Institutional investors own 97.64% of the company’s stock.

MasterCraft Boat Stock Performance

Shares of MCFT opened at $21.17 on Thursday. MasterCraft Boat has a one year low of $17.31 and a one year high of $31.70. The company has a 50-day moving average of $19.83 and a two-hundred day moving average of $20.82. The stock has a market cap of $359.47 million, a price-to-earnings ratio of 9.54 and a beta of 1.63. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.02 and a quick ratio of 1.54.

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

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.