Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) have been assigned an average rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $25.40.

A number of analysts have weighed in on MCFT shares. Weiss Ratings upgraded shares of Mastercraft Boat from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Truist Financial raised their price objective on Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 6th. Robert W. Baird set a $30.00 price objective on Mastercraft Boat in a report on Friday, May 8th. Finally, Zacks Research cut Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th.

Mastercraft Boat Stock Performance

Shares of Mastercraft Boat stock opened at $25.46 on Monday. The firm’s 50 day moving average is $24.43 and its 200 day moving average is $23.19. The firm has a market capitalization of $414.49 million, a PE ratio of 37.44 and a beta of 1.06. Mastercraft Boat has a 1 year low of $17.19 and a 1 year high of $28.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MCFT. State of Alaska Department of Revenue bought a new position in Mastercraft Boat in the 4th quarter valued at approximately $42,000. Legal & General Group Plc bought a new stake in Mastercraft Boat during the 2nd quarter worth approximately $46,000. State of Wyoming bought a new stake in Mastercraft Boat during the 2nd quarter worth approximately $61,000. Kemnay Advisory Services Inc. acquired a new position in Mastercraft Boat in the 4th quarter valued at approximately $63,000. Finally, Meeder Asset Management Inc. acquired a new position in Mastercraft Boat in the 2nd quarter valued at approximately $79,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

About Mastercraft Boat

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.