MasterCraft Boat (NASDAQ:MCFT) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

MasterCraft Boat (NASDAQ:MCFT – Get Rating) announced its quarterly earnings results on Wednesday. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.15, MarketWatch Earnings reports. MasterCraft Boat had a return on equity of 58.52% and a net margin of 9.80%. During the same quarter in the previous year, the firm earned $0.97 EPS. MasterCraft Boat updated its FY 2022 guidance to $4.30-$4.30 EPS.

MCFT stock opened at $23.75 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.38 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $24.61 and its 200 day moving average is $26.38. The stock has a market cap of $439.38 million, a price-to-earnings ratio of 7.07 and a beta of 1.88. MasterCraft Boat has a 1-year low of $22.08 and a 1-year high of $33.63.

Several equities research analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and set a $47.00 price target on shares of MasterCraft Boat in a research report on Monday, March 28th. StockNews.com cut MasterCraft Boat from a “buy” rating to a “hold” rating in a research report on Thursday. Robert W. Baird decreased their price target on MasterCraft Boat from $40.00 to $36.00 in a research report on Thursday. Zacks Investment Research cut shares of MasterCraft Boat from a “buy” rating to a “hold” rating in a research report on Saturday, April 9th. Finally, Truist Financial decreased their price objective on shares of MasterCraft Boat from $30.00 to $26.00 in a research report on Wednesday, January 26th.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Divisar Capital Management LLC boosted its stake in MasterCraft Boat by 12.0% in the first quarter. Divisar Capital Management LLC now owns 1,213,023 shares of the company’s stock worth $29,852,000 after buying an additional 130,333 shares in the last quarter. BlackRock Inc. boosted its stake in shares of MasterCraft Boat by 0.4% during the fourth quarter. BlackRock Inc. now owns 1,208,404 shares of the company’s stock valued at $34,235,000 after purchasing an additional 4,413 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of MasterCraft Boat by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 539,870 shares of the company’s stock valued at $13,287,000 after purchasing an additional 5,852 shares during the period. State Street Corp boosted its stake in shares of MasterCraft Boat by 2.5% during the fourth quarter. State Street Corp now owns 335,554 shares of the company’s stock valued at $9,506,000 after purchasing an additional 8,046 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of MasterCraft Boat by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 327,610 shares of the company’s stock valued at $9,281,000 after purchasing an additional 2,630 shares during the period. 89.93% of the stock is owned by institutional investors and hedge funds.

About MasterCraft Boat (Get Rating)

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through three segments: MasterCraft, NauticStar, and Crest. The MasterCraft segment produces recreational performance sport boats and luxury day boats under the MasterCraft and Aviara brands, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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