MasterCraft Boat (NASDAQ:MCFT) Issues Quarterly Earnings Results

MasterCraft Boat (NASDAQ:MCFT) posted its earnings results on Wednesday. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09, Briefing.com reports. MasterCraft Boat had a net margin of 2.13% and a return on equity of 9.44%. The firm had revenue of $65.40 million during the quarter, compared to analysts’ expectations of $61.19 million. During the same period last year, the company posted $0.43 EPS. The company’s quarterly revenue was down 37.2% compared to the same quarter last year.

MasterCraft Boat Stock Up 2.9 %

MasterCraft Boat stock traded up $0.63 during trading hours on Thursday, hitting $22.66. The stock had a trading volume of 305,675 shares, compared to its average volume of 160,041. The stock’s 50-day moving average price is $17.71 and its 200-day moving average price is $19.20. MasterCraft Boat has a 12-month low of $16.12 and a 12-month high of $24.05. The company has a quick ratio of 1.42, a current ratio of 1.99 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $376.38 million, a P/E ratio of 51.50 and a beta of 1.61.

Analysts Set New Price Targets

Several analysts have commented on MCFT shares. B. Riley raised their price objective on shares of MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday. Truist Financial lifted their price target on MasterCraft Boat from $15.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday. DA Davidson decreased their price objective on MasterCraft Boat from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, September 10th. StockNews.com lowered MasterCraft Boat from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $22.00 target price on shares of MasterCraft Boat in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, MasterCraft Boat presently has a consensus rating of “Hold” and an average target price of $20.40.

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.