Zacks: Analysts Anticipate MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Will Post Quarterly Sales of $166.32 Million

Analysts expect MasterCraft Boat Holdings, Inc. (NASDAQ:MCFTGet Rating) to post $166.32 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for MasterCraft Boat’s earnings. The highest sales estimate is $167.90 million and the lowest is $164.96 million. MasterCraft Boat posted sales of $147.85 million during the same quarter last year, which suggests a positive year over year growth rate of 12.5%. The company is scheduled to report its next earnings results before the market opens on Monday, January 1st.

On average, analysts expect that MasterCraft Boat will report full year sales of $654.83 million for the current financial year, with estimates ranging from $650.42 million to $657.10 million. For the next fiscal year, analysts anticipate that the business will post sales of $716.61 million, with estimates ranging from $696.70 million to $736.10 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow MasterCraft Boat.

MasterCraft Boat (NASDAQ:MCFTGet Rating) last announced its quarterly earnings data on Thursday, February 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.11. The business had revenue of $159.47 million for the quarter, compared to analysts’ expectations of $153.52 million. MasterCraft Boat had a return on equity of 58.85% and a net margin of 9.87%. During the same period in the previous year, the business posted $0.72 EPS.

A number of research firms recently weighed in on MCFT. StockNews.com began coverage on shares of MasterCraft Boat in a research note on Thursday, March 31st. They issued a “buy” rating for the company. B. Riley reiterated a “buy” rating and issued a $47.00 price target on shares of MasterCraft Boat in a research report on Monday, March 28th. Zacks Investment Research cut MasterCraft Boat from a “buy” rating to a “hold” rating in a report on Saturday, April 9th. Truist Financial reduced their target price on MasterCraft Boat from $30.00 to $26.00 in a report on Wednesday, January 26th. Finally, Raymond James increased their price target on shares of MasterCraft Boat from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, February 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $37.20.

Shares of MCFT stock opened at $24.53 on Wednesday. The firm’s 50 day moving average is $25.18 and its 200 day moving average is $26.50. The stock has a market capitalization of $453.76 million, a P/E ratio of 7.76 and a beta of 1.88. MasterCraft Boat has a 12 month low of $22.08 and a 12 month high of $33.63. The company has a current ratio of 1.48, a quick ratio of 0.38 and a debt-to-equity ratio of 0.57.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Heartland Advisors Inc. grew its stake in MasterCraft Boat by 11.4% in the 3rd quarter. Heartland Advisors Inc. now owns 278,450 shares of the company’s stock worth $6,984,000 after buying an additional 28,450 shares in the last quarter. Dimensional Fund Advisors LP raised its position in MasterCraft Boat by 4.0% during the third quarter. Dimensional Fund Advisors LP now owns 530,555 shares of the company’s stock valued at $13,307,000 after purchasing an additional 20,274 shares in the last quarter. Wellington Management Group LLP purchased a new stake in MasterCraft Boat during the third quarter valued at about $3,072,000. Isthmus Partners LLC boosted its holdings in shares of MasterCraft Boat by 1.2% in the 4th quarter. Isthmus Partners LLC now owns 71,967 shares of the company’s stock worth $2,039,000 after purchasing an additional 843 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new position in shares of MasterCraft Boat during the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

MasterCraft Boat Company Profile (Get Rating)

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through three segments: MasterCraft, NauticStar, and Crest. The MasterCraft segment produces recreational performance sport boats and luxury day boats under the MasterCraft and Aviara brands, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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Earnings History and Estimates for MasterCraft Boat (NASDAQ:MCFT)

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