Mastercraft Boat (NASDAQ:MCFT) Raised to “Hold” at Wall Street Zen

Mastercraft Boat (NASDAQ:MCFT) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

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

Mastercraft Boat Price Performance

Shares of NASDAQ:MCFT opened at $19.36 on Friday. The business’s fifty day moving average price is $22.38 and its two-hundred day moving average price is $23.02. Mastercraft Boat has a fifty-two week low of $17.19 and a fifty-two week high of $28.44. The stock has a market capitalization of $471.22 million, a price-to-earnings ratio of -967.52 and a beta of 1.11.

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

Institutional Investors Weigh In On Mastercraft Boat

A number of large investors have recently bought and sold shares of MCFT. BlackRock Inc. bought a new stake in shares of Mastercraft Boat during the second quarter worth $36,896,000. Pillsbury Lake Capital LLC acquired a new stake in shares of Mastercraft Boat in the second quarter valued at $12,886,943. Polar Asset Management Partners Inc. acquired a new stake in shares of Mastercraft Boat in the second quarter valued at $10,073,000. De Lisle Partners LLP bought a new position in shares of Mastercraft Boat in the second quarter valued at about $5,573,000. Finally, Lazard Asset Management LLC bought a new position in shares of Mastercraft Boat in the first quarter valued at about $2,248,000. 97.64% of the stock is currently owned by institutional investors.

Mastercraft Boat Company Profile

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.