Mastercraft Boat (NASDAQ:MCFT) Share Price Crosses Above 50-Day Moving Average – Should You Sell?

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $23.74 and traded as high as $25.12. Mastercraft Boat shares last traded at $24.66, with a volume of 104,260 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MCFT shares. Zacks Research cut Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. 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 shares of Mastercraft Boat from $25.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings downgraded shares of Mastercraft Boat from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $25.40.

Mastercraft Boat Stock Performance

The stock has a market capitalization of $395.12 million, a price-to-earnings ratio of 35.69 and a beta of 1.05. The business has a 50-day moving average of $23.72 and a 200-day moving average of $22.71.

Mastercraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data 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 during 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 firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. Mastercraft Boat has set its FY 2026 guidance at 1.650-1.650 EPS. On average, research analysts predict that Mastercraft Boat Holdings, Inc. will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mastercraft Boat

A number of hedge funds and other institutional investors have recently made changes to their positions in MCFT. State of Alaska Department of Revenue acquired a new stake in Mastercraft Boat during the 4th quarter worth approximately $42,000. State of Wyoming acquired a new stake in shares of Mastercraft Boat during the second quarter worth $61,000. Kemnay Advisory Services Inc. purchased a new position in Mastercraft Boat in the 4th quarter valued at $63,000. Meeder Asset Management Inc. acquired a new position in Mastercraft Boat in the 4th quarter valued at $203,000. Finally, Russell Investments Group Ltd. raised its position in Mastercraft Boat by 12.2% during the 4th quarter. Russell Investments Group Ltd. now owns 10,988 shares of the company’s stock worth $208,000 after buying an additional 1,193 shares during the last quarter. 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.