Mastercraft Boat (NASDAQ:MCFT) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• MasterCraft beat quarterly earnings expectations: The company reported $0.67 in EPS, $0.05 above consensus, while revenue reached $129.94 million versus estimates of $93.05 million.
• MCFT opened at $22.79 and has traded between $17.19 and $28.44 over the past year. The company posted a 3.72% net margin and 10.56% return on equity.
• Analyst sentiment remains neutral: The consensus rating is “Hold,” with an average price target of $26.33; institutional investors and hedge funds own 97.64% of the stock.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.05, FiscalAI reports. The business had revenue of $129.94 million during the quarter, compared to analyst estimates of $93.05 million. Mastercraft Boat had a net margin of 3.72% and a return on equity of 10.56%.

Mastercraft Boat Price Performance

MCFT stock opened at $22.79 on Thursday. Mastercraft Boat has a fifty-two week low of $17.19 and a fifty-two week high of $28.44. The stock has a market capitalization of $371.02 million, a PE ratio of 33.52 and a beta of 1.07. The company has a 50 day moving average price of $24.35 and a 200 day moving average price of $23.18.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Truist Financial raised their target price on Mastercraft Boat from $25.00 to $28.00 and gave the company a "hold" rating in a report on Monday, July 6th. Zacks Research downgraded shares of Mastercraft Boat from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 17th. Finally, Weiss Ratings upgraded shares of Mastercraft Boat from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $26.33.

Hedge Funds Weigh In On Mastercraft Boat

Several hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP bought a new stake in shares of Mastercraft Boat in the fourth quarter worth $307,000. AQR Capital Management LLC grew its position in Mastercraft Boat by 41.4% in the fourth quarter. AQR Capital Management LLC now owns 15,002 shares of the company's stock valued at $284,000 after purchasing an additional 4,395 shares in the last quarter. Wells Fargo & Company MN grew its position in Mastercraft Boat by 19.6% in the fourth quarter. Wells Fargo & Company MN now owns 20,464 shares of the company's stock valued at $387,000 after purchasing an additional 3,347 shares in the last quarter. Algert Global LLC acquired a new stake in Mastercraft Boat in the 3rd quarter valued at $288,000. Finally, BNP Paribas Financial Markets increased its stake in Mastercraft Boat by 849.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,415 shares of the company's stock valued at $331,000 after buying an additional 13,792 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc NASDAQ: MCFT is a designer, manufacturer and marketer of high-performance recreational powerboats. The company's portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.

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