MasterCraft Boat (NASDAQ:MCFT) Releases Earnings Results, Beats Expectations By $0.21 EPS

MasterCraft Boat (NASDAQ:MCFT) released its quarterly earnings data on Thursday. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.21, Briefing.com reports. MasterCraft Boat had a net margin of 8.26% and a return on equity of 21.71%. The business had revenue of $67.20 million for the quarter, compared to analyst estimates of $63.10 million. During the same quarter last year, the firm earned $1.33 EPS. MasterCraft Boat’s quarterly revenue was down 59.7% compared to the same quarter last year.

MasterCraft Boat Trading Down 6.0 %

NASDAQ:MCFT opened at $18.66 on Friday. The company has a market cap of $316.87 million, a P/E ratio of 8.41 and a beta of 1.63. MasterCraft Boat has a twelve month low of $17.31 and a twelve month high of $24.05. The business has a 50 day moving average price of $19.52 and a two-hundred day moving average price of $20.71. The company has a quick ratio of 1.54, a current ratio of 2.02 and a debt-to-equity ratio of 0.23.

Wall Street Analyst Weigh In

A number of research firms recently commented on MCFT. Truist Financial lowered their price objective on shares of MasterCraft Boat from $20.00 to $15.00 and set a “hold” rating for the company in a research report on Monday, July 8th. B. Riley dropped their price target on MasterCraft Boat from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus decreased their price objective on MasterCraft Boat from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.83.

Insider Activity

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L bought 98,446 shares of MasterCraft Boat stock in a transaction that occurred on Thursday, June 6th. The stock was acquired at an average price of $20.35 per share, for a total transaction of $2,003,376.10. Following the completion of the acquisition, the insider now owns 3,047,968 shares of the company’s stock, valued at approximately $62,026,148.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 296,502 shares of company stock worth $5,948,360 over the last ninety days. 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.