Mastercraft Boat (NASDAQ:MCFT) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $22.04 and traded as high as $24.04. Mastercraft Boat shares last traded at $23.08, with a volume of 207,427 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research lowered shares of Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th. Truist Financial increased their price target on shares of Mastercraft Boat from $21.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Robert W. Baird set a $30.00 price target on shares of Mastercraft Boat in a research report on Friday, May 8th. B. Riley Financial reissued a “neutral” rating on shares of Mastercraft Boat in a research report on Friday, February 6th. Finally, Weiss Ratings lowered shares of Mastercraft Boat from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Mastercraft Boat has an average rating of “Hold” and an average price target of $24.80.

Mastercraft Boat Price Performance

The business has a fifty day moving average of $22.16 and a 200 day moving average of $21.15. The stock has a market cap of $375.91 million, a price-to-earnings ratio of 33.96 and a beta of 1.09.

Mastercraft Boat (NASDAQ:MCFT) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. Mastercraft Boat had a return on equity of 10.56% and a net margin of 3.72%.The firm had revenue of $78.21 million for the quarter, compared to the consensus estimate of $75.55 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. Mastercraft Boat has set its FY 2026 guidance at 1.650-1.650 EPS. On average, analysts expect that Mastercraft Boat Holdings, Inc. will post 1.34 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Fund L.P. Forager sold 30,131 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $23.43, for a total value of $705,969.33. Following the transaction, the insider owned 1,637,774 shares in the company, valued at approximately $38,373,044.82. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Mastercraft Boat

A number of hedge funds have recently added to or reduced their stakes in MCFT. Polar Asset Management Partners Inc. acquired a new position in Mastercraft Boat in the first quarter worth approximately $3,589,000. Arrowstreet Capital Limited Partnership grew its holdings in Mastercraft Boat by 212.4% during the third 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. Coliseum Capital Management LLC grew its holdings in Mastercraft Boat by 3.8% during the fourth quarter. Coliseum Capital Management LLC now owns 3,697,422 shares of the company’s stock valued at $69,918,000 after purchasing an additional 134,807 shares during the last quarter. Corient Private Wealth LLC acquired a new position in Mastercraft Boat during the second quarter valued at approximately $2,065,000. Finally, Lazard Asset Management LLC acquired a new position in Mastercraft Boat during the first quarter valued at approximately $2,248,000. 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.