Analysts Set MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Target Price at $35.20

Posted by on May 23rd, 2023

Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT – Get Rating) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $35.20.

Several research firms have recently commented on MCFT. Truist Financial boosted their price objective on MasterCraft Boat from $22.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, February 9th. B. Riley dropped their price objective on shares of MasterCraft Boat from $40.00 to $39.00 in a research note on Thursday, May 11th. Raymond James boosted their target price on shares of MasterCraft Boat from $31.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. StockNews.com upgraded MasterCraft Boat from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 15th. Finally, Robert W. Baird increased their price objective on MasterCraft Boat from $30.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, February 9th.

Institutional Investors Weigh In On MasterCraft Boat

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of MasterCraft Boat by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 82,990 shares of the company’s stock valued at $2,042,000 after purchasing an additional 1,042 shares during the last quarter. American Century Companies Inc. increased its holdings in MasterCraft Boat by 121.7% during the first quarter. American Century Companies Inc. now owns 37,043 shares of the company’s stock worth $912,000 after buying an additional 20,334 shares during the last quarter. Group One Trading L.P. raised its position in MasterCraft Boat by 55.9% in the first quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the period. MetLife Investment Management LLC boosted its stake in MasterCraft Boat by 67.7% in the first quarter. MetLife Investment Management LLC now owns 8,982 shares of the company’s stock valued at $221,000 after acquiring an additional 3,626 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of MasterCraft Boat by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 539,870 shares of the company’s stock valued at $13,287,000 after acquiring an additional 5,852 shares during the period. 91.99% of the stock is owned by institutional investors.

MasterCraft Boat Stock Performance

NASDAQ:MCFT opened at $28.17 on Friday. The firm has a market capitalization of $492.98 million, a P/E ratio of 8.69 and a beta of 1.76. MasterCraft Boat has a twelve month low of $18.49 and a twelve month high of $35.29. The company has a fifty day moving average of $29.41 and a 200-day moving average of $28.81. The company has a quick ratio of 1.26, a current ratio of 1.81 and a debt-to-equity ratio of 0.29.

MasterCraft Boat (NASDAQ:MCFT – Get Rating) last released its quarterly earnings data on Wednesday, May 10th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.31. MasterCraft Boat had a net margin of 8.10% and a return on equity of 64.21%. The company had revenue of $166.78 million for the quarter, compared to analysts’ expectations of $158.37 million. As a group, sell-side analysts anticipate that MasterCraft Boat will post 4.42 EPS for the current year.

About MasterCraft Boat

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Mastercraft Boat Holdings, Inc engages in the designing, manufacturing, and selling of boats. It operates through the following segments: MasterCraft, Crest, NauticStar, and Aviara. The MasterCraft segment offers recreational performance boats used for water skiing, wakeboarding, and wake surfing activities and general recreational boating under product brands, such as MasterCraft.

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Analyst Recommendations for MasterCraft Boat (NASDAQ:MCFT)

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