#5 - Mastercraft Boat (NASDAQ:MCFT)
Mastercraft Boat Holdings Inc. (NASDAQ: MCFT) is another company that is an easy name to put on a list of consumer discretionary stocks that are begging for a rate cut. As the saying goes, the best two days of a boat owner’s life are the day they buy it and the day they sell it. That assumes, however, that there are buyers.
In the face of higher interest rates, the company’s revenue and earnings are down, and so is the MCFT stock price - it’s down 41% in the last 12 months and 21% in 2024.
To be fair, some of the decline is due to a normalization in sales after several years of abnormally high sales. But if analysts are correct, and 2024 marks a bottom for boat sales, then this is a good time to buy MCFT stock, particularly with an attractive forward P/E ratio of just over 20x.
About MasterCraft Boat
MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through MasterCraft, Crest, and Aviara segments. The MasterCraft segment produces premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating.
Read More - Current Price
- $17.41
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $19.20 (10.3% Upside)
