Mastercraft Boat (NASDAQ:MCFT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Mastercraft Boat (NASDAQ:MCFT) to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

Several other analysts have also recently issued reports on the company. Robert W. Baird cut their target price on Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, September 11th. Truist Financial lifted their target price on Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 6th. B. Riley Financial reissued a “neutral” rating and issued a $22.00 price target (down from $25.00) on shares of Mastercraft Boat in a report on Wednesday, September 16th. Zacks Research cut Mastercraft Boat from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 15th. Finally, Weiss Ratings downgraded Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, September 11th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $24.25.

Mastercraft Boat Stock Performance

Shares of Mastercraft Boat stock opened at $19.20 on Friday. The company has a market capitalization of $467.33 million, a P/E ratio of -959.52 and a beta of 1.11. The company has a fifty day moving average of $22.28 and a 200 day moving average of $23.00. Mastercraft Boat has a fifty-two week low of $17.19 and a fifty-two week high of $28.44.

Mastercraft Boat (NASDAQ:MCFT) last issued its quarterly earnings results on Thursday, September 10th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%. The business had revenue of $129.94 million during the quarter, compared to analyst estimates of $101.79 million. During the same quarter in the prior year, the business posted $0.40 EPS. Mastercraft Boat’s revenue for the quarter was up 63.4% compared to the same quarter last year. Analysts forecast that Mastercraft Boat will post 1.66 EPS for the current year.

Institutional Trading of Mastercraft Boat

A number of institutional investors and hedge funds have recently bought and sold shares of MCFT. Pillsbury Lake Capital LLC bought a new position in shares of Mastercraft Boat during the 2nd quarter valued at approximately $12,886,943. BlackRock Inc. purchased a new position in shares of Mastercraft Boat in the second quarter valued at $36,896,000. Polar Asset Management Partners Inc. purchased a new position in shares of Mastercraft Boat in the second quarter valued at $10,073,000. Bank of New York Mellon Corp purchased a new position in shares of Mastercraft Boat in the second quarter valued at $1,970,000. Finally, Lazard Asset Management LLC bought a new stake in Mastercraft Boat in the first quarter worth $2,248,000. 97.64% of the stock is currently owned by institutional investors.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for performance-oriented ski and wake boats, and also offers luxury day boats and outboard-powered boats for watersports, cruising and general recreation.

Its primary brands include MasterCraft, which focuses on premium inboard performance boats; Crest, which produces luxury pontoon boats; and Aviara, which offers luxury day boats and related recreational vessels. The company sells its products through a network of dealers serving customers in North America and selected international markets.

MasterCraft traces its origins to 1968 and is headquartered in Vonore, Tennessee.