MasterCraft Boat (NASDAQ:MCFT) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

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

MasterCraft Boat Stock Up 2.9 %

MasterCraft Boat stock opened at $22.66 on Friday. MasterCraft Boat has a twelve month low of $16.12 and a twelve 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 company has a market capitalization of $376.38 million, a P/E ratio of 51.50 and a beta of 1.61. The firm has a 50 day moving average price of $17.71 and a 200-day moving average price of $19.20.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. DA Davidson cut their price target on shares of MasterCraft Boat from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. StockNews.com lowered shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. Truist Financial upped their target price on shares of MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday. Stifel Nicolaus restated a “buy” rating and issued a $22.00 target price on shares of MasterCraft Boat in a report on Friday, August 30th. Finally, B. Riley increased their price objective on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.40.

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.