Mastercraft Boat (NASDAQ:MCFT) Announces Earnings Results

Mastercraft Boat (NASDAQ:MCFT) posted its quarterly 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. The firm had revenue of $129.94 million during the quarter, compared to the consensus estimate of $93.05 million. Mastercraft Boat had a return on equity of 10.56% and a net margin of 3.72%.

Mastercraft Boat Price Performance

NASDAQ:MCFT opened at $22.79 on Thursday. Mastercraft Boat has a one year low of $17.19 and a one year 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 firm’s fifty day moving average price is $24.35 and its two-hundred day moving average price is $23.18.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Zacks Research downgraded Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a report 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 upped their price target on shares of Mastercraft Boat from $25.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Mastercraft Boat currently has an average rating of “Hold” and a consensus target price of $26.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCFT. Coliseum Capital Management LLC increased its position in Mastercraft Boat by 3.8% during the fourth quarter. Coliseum Capital Management LLC now owns 3,697,422 shares of the company’s stock worth $69,918,000 after acquiring an additional 134,807 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Mastercraft Boat by 26.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 272,749 shares of the company’s stock worth $5,158,000 after purchasing an additional 56,873 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Mastercraft Boat by 27.5% during the 4th quarter. Franklin Resources Inc. now owns 237,803 shares of the company’s stock worth $4,497,000 after acquiring an additional 51,327 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Mastercraft Boat by 212.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 220,819 shares of the company’s stock worth $4,739,000 after acquiring an additional 150,125 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in shares of Mastercraft Boat by 6.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 147,582 shares of the company’s stock worth $2,742,000 after acquiring an additional 8,368 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

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.