B.Riley FBR Reiterates Their Buy Rating on MasterCraft Boat Holdings (MCFT)

By Jason Carr

In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on MasterCraft Boat Holdings (MCFTResearch Report), with a price target of $25.00. The company’s shares closed last Thursday at $18.25.

According to TipRanks.com, Wold has 0 stars on 0-5 stars ranking scale with an average return of -14.6% and a 29.6% success rate. Wold covers the Services sector, focusing on stocks such as Dolby Laboratories, National Cinemedia, and Cinemark Holdings.

Currently, the analyst consensus on MasterCraft Boat Holdings is a Moderate Buy with an average price target of $15.75, which is a -11.9% downside from current levels. In a report issued on June 16, Raymond James also maintained a Buy rating on the stock with a $18.00 price target.

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Based on MasterCraft Boat Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $103 million and GAAP net loss of $36.71 million. In comparison, last year the company earned revenue of $128 million and had a net profit of $12.76 million.

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Mastercraft Boat Holdings, Inc. engages in the design, manufacture, and sale of boats. It operates through the MasterCraft, NauticStar, Crest segment. The MasterCraft segment offers recreational performance boats used for water skiing, wakeboarding, and wake surfing activities. The NauticStar segment includes recreational boats primarily used for salt water fishing, and general recreational boating. The Crest segment produces pontoon boats and are primarily used for general recreational boating. The company was founded in 1968 and is headquartered in Vonore, TN.