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 upped their target price on MasterCraft Boat from $20.00 to $22.00 and gave the company 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 company’s stock. According to MarketBeat.com, MasterCraft Boat presently has a consensus rating of Hold and a consensus target price of $24.83.

MasterCraft Boat Trading Up 3.7 %

Shares of NASDAQ:MCFT opened at $22.81 on Thursday. MasterCraft Boat has a 12-month low of $19.22 and a 12-month high of $31.70. The company has a market capitalization of $388.45 million, a PE ratio of 6.98 and a beta of 1.63. The business has a 50 day moving average of $21.44 and a two-hundred day moving average of $21.48. The company has a current ratio of 2.11, a quick ratio of 1.58 and a debt-to-equity ratio of 0.24.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly 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 return on equity of 32.01% and a net margin of 10.66%. The company had revenue of $99.48 million during the quarter, compared to the consensus estimate of $95.53 million. During the same period in the previous year, the company posted $1.16 earnings per share. MasterCraft Boat’s revenue for the quarter was down 37.5% on a year-over-year basis. As a group, analysts forecast that MasterCraft Boat will post 1.51 EPS for the current year.

Insider Transactions at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L bought 24,167 shares of MasterCraft Boat stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $20.72 per share, with a total value of $500,740.24. Following the purchase, 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 filing with the SEC, which is available at this link. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MCFT. BlackRock Inc. raised its stake in shares of MasterCraft Boat by 16.8% during the 1st quarter. BlackRock Inc. now owns 1,418,134 shares of the company’s stock worth $43,154,000 after buying an additional 203,490 shares during the period. Divisar Capital Management LLC raised 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 purchasing an additional 130,333 shares during the last quarter. Two Sigma Advisers LP raised its stake in MasterCraft Boat by 352.7% in the 1st quarter. Two Sigma Advisers LP now owns 153,000 shares of the company’s stock valued at $4,656,000 after purchasing an additional 119,200 shares during the last quarter. Renaissance Technologies LLC raised its stake in MasterCraft Boat by 191.7% in the 1st quarter. Renaissance Technologies LLC now owns 179,100 shares of the company’s stock valued at $5,450,000 after purchasing an additional 117,700 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in MasterCraft Boat by 304.1% in the 1st quarter. Two Sigma Investments LP now owns 150,723 shares of the company’s stock valued at $4,587,000 after purchasing an additional 113,422 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

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.