MasterCraft Boat (NASDAQ:MCFT) Issues FY 2022 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFT – Get Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided EPS guidance of $4.30-$4.30 for the period, compared to the consensus EPS estimate of $4.28. The company issued revenue guidance of $683.55 million-$683.55 million, compared to the consensus revenue estimate of $655.86 million.

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

Shares of MCFT opened at $24.56 on Wednesday. The stock’s 50-day simple moving average is $24.79 and its 200 day simple moving average is $26.43. The stock has a market capitalization of $454.31 million, a price-to-earnings ratio of 7.77 and a beta of 1.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.38 and a current ratio of 1.48. MasterCraft Boat has a 52-week low of $22.08 and a 52-week high of $33.63.

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in MasterCraft Boat by 50.8% during the 3rd quarter. Royal Bank of Canada now owns 1,947 shares of the company’s stock worth $48,000 after purchasing an additional 656 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in MasterCraft Boat by 354.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,839 shares of the company’s stock worth $96,000 after purchasing an additional 2,994 shares in the last quarter. Citigroup Inc. lifted its holdings in MasterCraft Boat by 127.6% during the 4th quarter. Citigroup Inc. now owns 4,774 shares of the company’s stock worth $135,000 after purchasing an additional 2,676 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in MasterCraft Boat during the 4th quarter worth about $280,000. Finally, Bank of America Corp DE increased its stake in MasterCraft Boat by 127.0% in the 4th quarter. Bank of America Corp DE now owns 10,104 shares of the company’s stock worth $286,000 after acquiring an additional 5,653 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

About MasterCraft Boat (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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