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

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) 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 Price Performance

Shares of MCFT stock traded up $0.19 during midday trading on Friday, reaching $20.53. 152,756 shares of the company traded hands, compared to its average volume of 135,080. The firm's 50 day simple moving average is $21.49 and its two-hundred day simple moving average is $21.39. MasterCraft Boat has a 1-year low of $18.01 and a 1-year high of $31.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.02 and a quick ratio of 1.54. The firm has a market cap of $348.60 million, a PE ratio of 9.25 and a beta of 1.65.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MCFT shares. Stifel Nicolaus reduced their price target 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. B. Riley cut their price target on MasterCraft Boat from $24.00 to $22.00 and set a neutral rating for the company in a report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $24.00.

Insider Buying and Selling at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L acquired 24,167 shares of the firm's stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $20.72 per share, for a total transaction of $500,740.24. Following the completion of the acquisition, the insider now directly owns 2,025,578 shares of the company's stock, valued at $41,969,976.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders acquired 417,201 shares of company stock worth $8,796,912. Insiders own 2.50% of the company's stock.

MasterCraft Boat Company Profile

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.