Mastercraft Boat (NASDAQ:MCFT) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $23.83 and traded as high as $24.51. Mastercraft Boat shares last traded at $23.80, with a volume of 98,785 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings downgraded Mastercraft Boat from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Robert W. Baird set a $30.00 price target on Mastercraft Boat in a report on Friday, May 8th. Truist Financial raised their price objective on Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Finally, Zacks Research upgraded Mastercraft Boat from a “hold” rating to a “strong-buy” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.40.

Mastercraft Boat Stock Up 2.4%

The company has a market capitalization of $410.42 million, a P/E ratio of 37.07 and a beta of 1.05. The business has a 50 day simple moving average of $23.84 and a 200-day simple moving average of $22.48.

Mastercraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $78.21 million for the quarter, compared to analysts’ expectations of $75.55 million. Mastercraft Boat had a return on equity of 10.56% and a net margin of 3.72%.The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 earnings per share. Mastercraft Boat has set its FY 2026 guidance at 1.650-1.650 EPS. Equities analysts forecast that Mastercraft Boat Holdings, Inc. will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. acquired a new stake in Mastercraft Boat in the 2nd quarter valued at about $231,000. Empowered Funds LLC lifted its stake in Mastercraft Boat by 20.8% during the first quarter. Empowered Funds LLC now owns 51,648 shares of the company’s stock valued at $1,059,000 after purchasing an additional 8,877 shares during the last quarter. Bank of America Corp DE lifted its stake in Mastercraft Boat by 40.0% during the first quarter. Bank of America Corp DE now owns 55,529 shares of the company’s stock valued at $1,139,000 after purchasing an additional 15,871 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Mastercraft Boat by 26.0% during the first quarter. Quantinno Capital Management LP now owns 62,674 shares of the company’s stock worth $1,285,000 after buying an additional 12,945 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in Mastercraft Boat in the first quarter worth approximately $3,589,000. Institutional investors own 97.64% of the company’s stock.

About Mastercraft Boat

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.