MasterCraft Boat (NASDAQ:MCFT) Updates FY 2024 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.530-1.780 for the period, compared to the consensus earnings per share estimate of 1.600. The company issued revenue guidance of $400.0 million-$412.0 million, compared to the consensus revenue estimate of $405.6 million. MasterCraft Boat also updated its Q3 2024 guidance to 0.230-0.230 EPS.

Analysts Set New Price Targets

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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $24.83.

MasterCraft Boat Stock Up 4.0 %

MasterCraft Boat stock opened at $23.72 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.11 and a debt-to-equity ratio of 0.24. MasterCraft Boat has a 12-month low of $19.22 and a 12-month high of $31.70. The firm’s fifty day moving average is $21.51 and its 200 day moving average is $21.49. The company has a market capitalization of $403.95 million, a PE ratio of 7.25 and a beta of 1.63.

MasterCraft Boat (NASDAQ:MCFT) last released its earnings results on Wednesday, February 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.17. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The company 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 earned $1.16 EPS. MasterCraft Boat’s quarterly revenue was down 37.5% compared to the same quarter last year. As a group, sell-side analysts predict that MasterCraft Boat will post 1.51 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L purchased 118,620 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average price of $21.84 per share, with a total value of $2,590,660.80. Following the acquisition, the insider now owns 2,151,676 shares of the company’s stock, valued at approximately $46,992,603.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in MasterCraft Boat by 9.9% in the 2nd quarter. BlackRock Inc. now owns 1,558,057 shares of the company’s stock valued at $47,754,000 after buying an additional 139,923 shares in the last quarter. Vanguard Group Inc. grew its stake in MasterCraft Boat by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 1,333,985 shares of the company’s stock valued at $30,201,000 after buying an additional 31,560 shares in the last quarter. Divisar Capital Management LLC grew its stake in MasterCraft Boat by 12.0% in the 1st quarter. Divisar Capital Management LLC now owns 1,213,023 shares of the company’s stock valued at $29,852,000 after buying an additional 130,333 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in MasterCraft Boat by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 646,671 shares of the company’s stock valued at $14,641,000 after buying an additional 57,660 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in MasterCraft Boat by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 384,064 shares of the company’s stock valued at $11,772,000 after buying an additional 13,436 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

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.