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

by · The Markets Daily

Mastercraft Boat (NASDAQ:MCFT – Get Free Report) posted its earnings results 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. Mastercraft Boat had a net margin of 3.72% and a return on equity of 10.56%. The firm had revenue of $129.94 million during the quarter, compared to analyst estimates of $93.05 million.

Mastercraft Boat Trading Down 3.1%

Shares of MCFT opened at $22.79 on Thursday. Mastercraft Boat has a twelve month low of $17.19 and a twelve month high of $28.44. The company has a market cap of $371.02 million, a P/E ratio of 33.52 and a beta of 1.07. The company’s fifty day simple moving average is $24.35 and its 200-day simple moving average is $23.18.

Hedge Funds Weigh In On Mastercraft Boat

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

Wall Street Analysts Forecast Growth

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

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About Mastercraft Boat

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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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