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

MasterCraft Boat (NASDAQ:MCFT) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.230-0.230 for the period, compared to the consensus earnings per share 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.

MasterCraft Boat Stock Performance

MCFT stock opened at $22.81 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.58 and a debt-to-equity ratio of 0.24. The firm has a market cap of $388.45 million, a P/E ratio of 6.98 and a beta of 1.63. MasterCraft Boat has a 12-month low of $19.22 and a 12-month high of $31.70. The stock’s 50 day simple moving average is $21.44 and its 200 day simple moving average is $21.48.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. The firm had revenue of $99.48 million during the quarter, compared to the consensus estimate of $95.53 million. MasterCraft Boat had a return on equity of 32.01% and a net margin of 10.66%. The firm’s revenue was down 37.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 EPS. As a group, equities research analysts predict that MasterCraft Boat will post 1.51 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Truist Financial upped their price objective on MasterCraft Boat from $20.00 to $22.00 and gave the stock a hold rating in a research note on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, MasterCraft Boat presently has a consensus rating of Hold and an average price target of $24.83.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L acquired 24,167 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $20.72 per share, for a total transaction of $500,740.24. Following the completion of the acquisition, the insider now directly owns 2,025,578 shares in the company, valued at approximately $41,969,976.16. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.50% of the company’s stock.

Institutional Trading of MasterCraft Boat

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of MasterCraft Boat by 2.4% in the fourth 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 during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of MasterCraft Boat by 15.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,141 shares of the company’s stock valued at $343,000 after purchasing an additional 2,057 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of MasterCraft Boat during the fourth quarter valued at $306,000. Barclays PLC lifted its holdings in shares of MasterCraft Boat by 151.9% during the fourth quarter. Barclays PLC now owns 39,362 shares of the company’s stock valued at $892,000 after purchasing an additional 23,738 shares during the last quarter. Finally, Occudo Quantitative Strategies LP lifted its holdings in shares of MasterCraft Boat by 50.3% during the fourth quarter. Occudo Quantitative Strategies LP now owns 13,788 shares of the company’s stock valued at $312,000 after purchasing an additional 4,616 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

MasterCraft Boat Company Profile

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.