MasterCraft Boat (NASDAQ:MCFT) Issues Q3 2024 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFTGet Free Report) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.230-0.230 for the period, compared to the consensus EPS estimate of 0.230. The company issued revenue guidance of $92.0 million-$92.0 million, compared to the consensus revenue estimate of $92.8 million. MasterCraft Boat also updated its FY 2024 guidance to 1.530-1.780 EPS.

Analyst Ratings Changes

Separately, Truist Financial boosted their price target on shares of MasterCraft Boat from $20.00 to $22.00 and gave the stock a hold rating in a research report on Tuesday, January 9th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, MasterCraft Boat has a consensus rating of Hold and a consensus target price of $24.83.

View Our Latest Stock Analysis on MCFT

MasterCraft Boat Stock Up 4.0 %

Shares of NASDAQ:MCFT opened at $23.72 on Friday. MasterCraft Boat has a 52 week low of $19.22 and a 52 week high of $31.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.58 and a current ratio of 2.11. The company has a market cap of $403.95 million, a PE ratio of 7.25 and a beta of 1.63. The firm has a 50 day simple moving average of $21.57 and a 200 day simple moving average of $21.52.

MasterCraft Boat (NASDAQ:MCFTGet Free Report) last issued its earnings results on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.17. MasterCraft Boat had a return on equity of 32.01% and a net margin of 10.66%. The firm had revenue of $99.48 million for the quarter, compared to the consensus estimate of $95.53 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. The business’s quarterly revenue was down 37.5% compared to the same quarter last year. As a group, research analysts expect that MasterCraft Boat will post 1.51 earnings per share for the current year.

Insider Activity at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 118,620 shares of the stock in a transaction dated Monday, March 18th. The shares were bought at an average cost of $21.84 per share, with a total value of $2,590,660.80. Following the completion of the transaction, the insider now owns 2,151,676 shares in the company, valued at approximately $46,992,603.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in shares of MasterCraft Boat by 143.8% in the first quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock valued at $25,000 after buying an additional 489 shares during the period. Group One Trading L.P. increased its holdings in MasterCraft Boat by 55.9% in the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after buying an additional 500 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of MasterCraft Boat by 44.7% during the 4th quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock worth $37,000 after acquiring an additional 443 shares during the period. Quarry LP acquired a new stake in shares of MasterCraft Boat during the 1st quarter valued at about $41,000. Finally, UBS Group AG increased its stake in MasterCraft Boat by 932.3% in the third quarter. UBS Group AG now owns 2,302 shares of the company’s stock valued at $43,000 after acquiring an additional 2,079 shares during the period. Institutional investors own 97.64% of the company’s stock.

MasterCraft Boat Company Profile

(Get Free Report)

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.

Further Reading

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