Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Stock Rated “Reduce” by Sell-Side Brokerages

Shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) have been assigned an average rating of “Reduce” from the six analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $22.75.

Several research analysts have recently weighed in on the stock. Weiss Ratings cut shares of Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Truist Financial cut their price objective on shares of Mastercraft Boat from $28.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, October 23rd. Robert W. Baird reduced their target price on shares of Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, September 11th. Wall Street Zen upgraded shares of Mastercraft Boat to a “hold” rating in a report on Saturday, October 10th. Finally, Zacks Research cut shares of Mastercraft Boat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. CenterBook Partners LP acquired a new stake in Mastercraft Boat in the 3rd quarter valued at approximately $8,025,000. Inspire Investing LLC raised its position in Mastercraft Boat by 20.7% in the third quarter. Inspire Investing LLC now owns 32,009 shares of the company’s stock valued at $634,000 after purchasing an additional 5,499 shares during the period. SummerHaven Investment Management LLC purchased a new stake in Mastercraft Boat in the third quarter valued at approximately $775,000. State of Alaska Department of Revenue lifted its stake in Mastercraft Boat by 56.5% during the third quarter. State of Alaska Department of Revenue now owns 3,543 shares of the company’s stock worth $69,000 after purchasing an additional 1,279 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Mastercraft Boat by 196.9% during the third quarter. Versant Capital Management Inc now owns 2,527 shares of the company’s stock worth $50,000 after purchasing an additional 1,676 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Mastercraft Boat Stock Performance

Shares of Mastercraft Boat stock opened at $22.25 on Friday. Mastercraft Boat has a one year low of $17.19 and a one year high of $28.44. The company has a market cap of $538.98 million, a price-to-earnings ratio of -1,111.94 and a beta of 1.10. The business’s 50 day moving average price is $20.73 and its 200 day moving average price is $22.52.

Mastercraft Boat (NASDAQ:MCFT) last issued its earnings results on Thursday, September 10th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $129.94 million during the quarter, compared to analysts’ expectations of $101.79 million. During the same period in the prior year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 63.4% on a year-over-year basis. On average, analysts predict that Mastercraft Boat will post 1.66 EPS for the current fiscal year.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company serves the premium marine market with boats intended for water sports, cruising, fishing and general leisure use.

Its portfolio has included MasterCraft performance ski and wake boats, Crest pontoon boats and Aviara luxury day boats. MasterCraft boats are known for water-sports features such as wake-shaping systems, while the company’s other brands address broader recreational boating needs, including spacious pontoon and luxury day-boat segments.

Founded in 1968, MasterCraft is headquartered in Vonore, Tennessee, and distributes its products through a network of independent dealers in North America and selected international markets.