MasterCraft Boat (NASDAQ:MCFT – Get Rating) updated its first quarter 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.30-$1.30 for the period, compared to the consensus estimate of $1.03. The company issued revenue guidance of $165.00 million-$165.00 million, compared to the consensus revenue estimate of $164.51 million. MasterCraft Boat also updated its FY 2023 guidance to $3.89-$4.31 EPS.
Wall Street Analysts Forecast Growth
MCFT has been the topic of several research reports. StockNews.com upgraded shares of MasterCraft Boat from a buy rating to a strong-buy rating in a report on Tuesday, September 13th. Stifel Nicolaus started coverage on shares of MasterCraft Boat in a report on Thursday, August 18th. They set a buy rating and a $35.00 price objective on the stock. Robert W. Baird lowered their target price on shares of MasterCraft Boat from $32.00 to $30.00 in a research note on Friday, September 9th. Raymond James lowered their target price on shares of MasterCraft Boat from $38.00 to $29.00 and set an outperform rating on the stock in a research note on Friday, September 9th. Finally, B. Riley lowered their target price on shares of MasterCraft Boat from $46.00 to $37.00 and set a buy rating on the stock in a research note on Friday, September 9th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $31.40.
Get MasterCraft Boat alerts:MasterCraft Boat Price Performance
NASDAQ:MCFT traded down $0.54 on Thursday, reaching $19.83. The stock had a trading volume of 4,810 shares, compared to its average volume of 176,518. The company has a market capitalization of $359.91 million, a P/E ratio of 6.53 and a beta of 1.79. MasterCraft Boat has a 1-year low of $20.02 and a 1-year high of $29.69. The company has a quick ratio of 0.72, a current ratio of 1.57 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $23.75 and a 200-day moving average price of $23.62.
MasterCraft Boat (NASDAQ:MCFT – Get Rating) last announced its earnings results on Thursday, September 8th. The company reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.31. MasterCraft Boat had a net margin of 8.22% and a return on equity of 62.88%. During the same quarter last year, the business earned $0.94 EPS. Research analysts forecast that MasterCraft Boat will post 4.24 EPS for the current year.Institutional Investors Weigh In On MasterCraft Boat
Several large investors have recently bought and sold shares of the company. Divisar Capital Management LLC increased 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 valued at $29,852,000 after purchasing an additional 130,333 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in MasterCraft Boat by 1.1% in 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 in the last quarter. Wellington Management Group LLP increased its stake in MasterCraft Boat by 39.4% in the first quarter. Wellington Management Group LLP now owns 372,400 shares of the company's stock valued at $9,165,000 after purchasing an additional 105,300 shares in the last quarter. State Street Corp increased its stake in MasterCraft Boat by 2.9% in the first quarter. State Street Corp now owns 345,159 shares of the company's stock valued at $8,494,000 after purchasing an additional 9,605 shares in the last quarter. Finally, Millennium Management LLC increased its stake in MasterCraft Boat by 890.3% in the second quarter. Millennium Management LLC now owns 121,142 shares of the company's stock valued at $2,550,000 after purchasing an additional 108,909 shares in the last quarter. Institutional investors own 89.33% of the company's stock.
MasterCraft Boat Company Profile
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MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through four segments: MasterCraft, Crest, NauticStar, and Aviara. The MasterCraft segment produces recreational performance sport boats, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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