Brokerages Set MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Target Price at $26.00

Posted by Defense World Staff on Sep 25th, 2023

Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT – Get Free Report) have earned a consensus rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $26.00.

MCFT has been the subject of several research reports. TheStreet lowered MasterCraft Boat from a “b” rating to a “c+” rating in a research note on Wednesday, September 6th. B. Riley lowered MasterCraft Boat from a “buy” rating to a “neutral” rating and dropped their price target for the company from $37.00 to $23.00 in a research report on Thursday, August 31st. Raymond James decreased their price objective on MasterCraft Boat from $40.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, August 31st. Truist Financial decreased their price objective on MasterCraft Boat from $28.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, August 31st. Finally, Stifel Nicolaus decreased their price objective on MasterCraft Boat from $40.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, August 31st.

Read Our Latest Analysis on MCFT

Hedge Funds Weigh In On MasterCraft Boat

Several large investors have recently bought and sold shares of MCFT. Capital World Investors purchased a new position in MasterCraft Boat in the second quarter valued at $19,893,000. Assenagon Asset Management S.A. boosted its stake in shares of MasterCraft Boat by 495.4% during the first quarter. Assenagon Asset Management S.A. now owns 533,297 shares of the company’s stock worth $16,228,000 after buying an additional 443,723 shares during the period. Acadian Asset Management LLC boosted its stake in shares of MasterCraft Boat by 269.8% during the first quarter. Acadian Asset Management LLC now owns 323,744 shares of the company’s stock worth $9,849,000 after buying an additional 236,207 shares during the period. BlackRock Inc. boosted its stake in shares of MasterCraft Boat by 16.8% during the first quarter. BlackRock Inc. now owns 1,418,134 shares of the company’s stock worth $43,154,000 after buying an additional 203,490 shares during the period. Finally, Divisar Capital Management LLC boosted its stake in shares of MasterCraft Boat by 12.0% during the first quarter. Divisar Capital Management LLC now owns 1,213,023 shares of the company’s stock worth $29,852,000 after buying an additional 130,333 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

MasterCraft Boat Price Performance

Shares of MasterCraft Boat stock opened at $20.96 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.91 and a debt-to-equity ratio of 0.26. MasterCraft Boat has a twelve month low of $18.49 and a twelve month high of $35.29. The business has a 50-day moving average price of $25.39 and a 200 day moving average price of $27.95. The firm has a market cap of $360.51 million, a PE ratio of 5.36 and a beta of 1.82.

MasterCraft Boat (NASDAQ:MCFT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.30. MasterCraft Boat had a return on equity of 54.60% and a net margin of 10.41%. The firm had revenue of $166.57 million during the quarter, compared to analyst estimates of $161.88 million. Sell-side analysts predict that MasterCraft Boat will post 1.68 earnings per share for the current fiscal year.

MasterCraft Boat Company Profile

(Get Free Report

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.