Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Given Average Recommendation of “Hold” by Brokerages

Shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) have been given a consensus rating of “Hold” by the eight brokerages that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $22.6667.

Several equities analysts have commented on the stock. Seaport Research Partners raised shares of Mastercraft Boat to a “hold” rating in a research report on Monday, December 22nd. Loop Capital started coverage on Mastercraft Boat in a research note on Monday, December 22nd. They set a “hold” rating and a $21.00 price target for the company. Truist Financial set a $21.00 price objective on Mastercraft Boat in a research note on Friday, October 24th. Zacks Research raised Mastercraft Boat from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Mastercraft Boat in a report on Monday, December 29th.

Mastercraft Boat Stock Performance

NASDAQ:MCFT opened at $23.12 on Thursday. The company has a market capitalization of $376.62 million, a P/E ratio of 23.84 and a beta of 1.07. The stock’s 50 day moving average price is $20.17 and its 200 day moving average price is $20.53. Mastercraft Boat has a 52 week low of $14.39 and a 52 week high of $23.93.

Mastercraft Boat (NASDAQ:MCFT) last posted its earnings results on Thursday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. Mastercraft Boat had a net margin of 5.50% and a return on equity of 8.09%. The firm had revenue of $69.00 million during the quarter, compared to analysts’ expectations of $66.96 million. During the same period in the previous year, the company earned $0.12 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Mastercraft Boat will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Fund L.P. Forager sold 58,066 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $20.37, for a total value of $1,182,804.42. Following the sale, the insider directly owned 1,699,928 shares of the company’s stock, valued at approximately $34,627,533.36. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Coliseum Capital Management, L acquired 76,000 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was acquired at an average price of $19.79 per share, for a total transaction of $1,504,040.00. Following the completion of the purchase, the insider directly owned 3,672,422 shares of the company’s stock, valued at $72,677,231.38. This trade represents a 2.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 134,807 shares of company stock worth $2,649,367 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of Mastercraft Boat

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCFT. Forager Capital Management LLC increased its position in Mastercraft Boat by 6.2% in the 2nd quarter. Forager Capital Management LLC now owns 1,802,975 shares of the company’s stock worth $33,499,000 after buying an additional 105,280 shares during the period. American Century Companies Inc. grew its stake in shares of Mastercraft Boat by 7.3% in the second quarter. American Century Companies Inc. now owns 538,225 shares of the company’s stock worth $10,000,000 after acquiring an additional 36,569 shares during the last quarter. Royce & Associates LP increased its position in Mastercraft Boat by 11.4% during the third quarter. Royce & Associates LP now owns 256,702 shares of the company’s stock worth $5,509,000 after acquiring an additional 26,186 shares during the period. Gratia Capital LLC acquired a new position in Mastercraft Boat during the 2nd quarter valued at $4,273,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Mastercraft Boat by 212.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 220,819 shares of the company’s stock valued at $4,739,000 after purchasing an additional 150,125 shares during the last quarter. Institutional investors and hedge funds 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.