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

MasterCraft Boat (NASDAQ:MCFT) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.950-1.050 for the period, compared to the consensus estimate of 1.600. The company issued revenue guidance of $360.0 million-$365.0 million, compared to the consensus revenue estimate of $405.6 million.

MasterCraft Boat Trading Up 0.9 %

MCFT opened at $20.53 on Friday. The stock has a market capitalization of $348.60 million, a PE ratio of 9.25 and a beta of 1.65. MasterCraft Boat has a one year low of $18.01 and a one year high of $31.70. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.54 and a current ratio of 2.02. The business’s 50 day moving average price is $21.49 and its 200 day moving average price is $21.39.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. B. Riley decreased their target price on shares of MasterCraft Boat from $24.00 to $22.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. Stifel Nicolaus lowered their price objective on shares of MasterCraft Boat from $27.00 to $25.00 and set a buy rating for the company in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, MasterCraft Boat presently has a consensus rating of Hold and an average price target of $24.00.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L acquired 11,308 shares of the stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average cost of $21.63 per share, with a total value of $244,592.04. Following the completion of the transaction, the insider now owns 2,162,984 shares in the company, valued at approximately $46,785,343.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have purchased 417,201 shares of company stock worth $8,796,912. Corporate insiders own 2.50% 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.