MasterCraft Boat (NASDAQ:MCFT) Issues 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 (EPS) guidance of 0.230-0.230 for the period, compared to the consensus 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 Trading Up 3.7 %

Shares of NASDAQ MCFT 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. MasterCraft Boat has a one year low of $19.22 and a one year high of $31.70. The business has a 50-day moving average price of $21.44 and a two-hundred day moving average price of $21.48. The firm has a market capitalization of $388.45 million, a PE ratio of 6.98 and a beta of 1.63.

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

Analyst Ratings Changes

Separately, Truist Financial upped their price target on shares of MasterCraft Boat from $20.00 to $22.00 and gave the stock a hold rating in a research note 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. Based on data from MarketBeat, MasterCraft Boat has a consensus rating of Hold and a consensus target price of $24.83.

Insider Transactions at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L acquired 24,167 shares of MasterCraft Boat stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $20.72 per share, with a total value of $500,740.24. Following the purchase, the insider now owns 2,025,578 shares in the company, valued at $41,969,976.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its position 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 purchasing an additional 489 shares during the period. Quarry LP acquired a new position in MasterCraft Boat during the 1st quarter worth $41,000. Group One Trading L.P. boosted its holdings in MasterCraft Boat by 55.9% during the first quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the period. Meeder Asset Management Inc. grew its position in shares of MasterCraft Boat by 44.7% in the fourth quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock valued at $37,000 after purchasing an additional 443 shares during the last quarter. Finally, Coppell Advisory Solutions LLC bought a new position in shares of MasterCraft Boat in the second quarter worth about $52,000. 97.64% of the stock is owned by institutional investors.

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.