MasterCraft Boat (NASDAQ:MCFT) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

MasterCraft Boat (NASDAQ:MCFT – Get Rating) issued its earnings results on Wednesday. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.15, MarketWatch Earnings reports. MasterCraft Boat had a net margin of 9.87% and a return on equity of 58.85%. During the same period in the previous year, the business posted $0.97 earnings per share. MasterCraft Boat updated its FY 2022 guidance to $4.30-$4.30 EPS.

Shares of MCFT opened at $23.33 on Friday. The company has a 50-day simple moving average of $24.67 and a 200-day simple moving average of $26.40. The company has a quick ratio of 0.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $431.61 million, a PE ratio of 6.94 and a beta of 1.88. MasterCraft Boat has a 52-week low of $22.08 and a 52-week high of $33.63.

MCFT has been the subject of a number of recent research reports. StockNews.com cut shares of MasterCraft Boat from a “buy” rating to a “hold” rating in a research note on Thursday. B. Riley reiterated a “buy” rating and set a $47.00 price target on shares of MasterCraft Boat in a research note on Monday, March 28th. 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 research note on Friday, February 4th. Robert W. Baird decreased their price target on shares of MasterCraft Boat from $40.00 to $36.00 in a research note on Thursday. Finally, Truist Financial decreased their price target on shares of MasterCraft Boat from $30.00 to $26.00 in a research note on Wednesday, January 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $36.40.

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in MasterCraft Boat by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 539,870 shares of the company’s stock valued at $13,287,000 after acquiring an additional 5,852 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of MasterCraft Boat by 67.7% during the 1st quarter. MetLife Investment Management LLC now owns 8,982 shares of the company’s stock worth $221,000 after purchasing an additional 3,626 shares during the last quarter. Group One Trading L.P. boosted its stake in shares of MasterCraft Boat by 55.9% during the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of MasterCraft Boat by 121.7% during the 1st quarter. American Century Companies Inc. now owns 37,043 shares of the company’s stock worth $912,000 after purchasing an additional 20,334 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of MasterCraft Boat by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 82,990 shares of the company’s stock worth $2,042,000 after purchasing an additional 1,042 shares during the last quarter. 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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