Mastercraft Boat (NASDAQ:MCFT) Stock Price Passes Above 50 Day Moving Average – What’s Next?

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $22.98 and traded as high as $23.24. Mastercraft Boat shares last traded at $22.21, with a volume of 107,770 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MCFT. Weiss Ratings downgraded Mastercraft Boat from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Zacks Research raised Mastercraft Boat from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Robert W. Baird set a $30.00 target price on Mastercraft Boat in a research report on Friday, May 8th. Finally, Truist Financial boosted their target price on Mastercraft Boat from $21.00 to $25.00 and gave the company a “hold” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.80.

Mastercraft Boat Stock Performance

The stock has a fifty day moving average of $22.98 and a 200-day moving average of $21.56. The company has a market cap of $361.58 million, a PE ratio of 32.66 and a beta of 1.07.

Mastercraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. Mastercraft Boat had a return on equity of 10.56% and a net margin of 3.72%.The company had revenue of $78.21 million during the quarter, compared to analysts’ expectations of $75.55 million. During the same quarter in the previous year, the business earned $0.30 EPS. Mastercraft Boat’s revenue was up 2.9% compared to the same quarter last year. Mastercraft Boat has set its FY 2026 guidance at 1.650-1.650 EPS. As a group, equities analysts anticipate that Mastercraft Boat Holdings, Inc. will post 1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Mastercraft Boat

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new position in Mastercraft Boat during the 4th quarter valued at $42,000. State of Wyoming purchased a new position in Mastercraft Boat during the 2nd quarter valued at $61,000. Kemnay Advisory Services Inc. purchased a new position in Mastercraft Boat during the 4th quarter valued at $63,000. Meeder Asset Management Inc. purchased a new position in Mastercraft Boat during the 4th quarter valued at $203,000. Finally, Russell Investments Group Ltd. boosted its holdings in Mastercraft Boat by 12.2% during the 4th quarter. Russell Investments Group Ltd. now owns 10,988 shares of the company’s stock valued at $208,000 after acquiring an additional 1,193 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc (NASDAQ: MCFT) is a designer, manufacturer and marketer of high-performance recreational powerboats. The company’s portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.