$127.45 Million in Sales Expected for Mastercraft Boat Holdings Inc (NASDAQ:MCFT) This Quarter

Wall Street brokerages expect Mastercraft Boat Holdings Inc (NASDAQ:MCFT) to report $127.45 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Mastercraft Boat’s earnings. The lowest sales estimate is $122.90 million and the highest is $130.44 million. Mastercraft Boat reported sales of $95.43 million in the same quarter last year, which would suggest a positive year over year growth rate of 33.6%. The business is scheduled to report its next earnings results on Thursday, September 5th.

According to Zacks, analysts expect that Mastercraft Boat will report full-year sales of $471.02 million for the current year, with estimates ranging from $466.50 million to $474.01 million. For the next year, analysts forecast that the firm will post sales of $534.70 million, with estimates ranging from $515.58 million to $545.29 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Mastercraft Boat.

Mastercraft Boat (NASDAQ:MCFT) last released its earnings results on Thursday, May 9th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.13. The business had revenue of $128.40 million for the quarter, compared to analyst estimates of $122.72 million. Mastercraft Boat had a return on equity of 73.69% and a net margin of 10.15%. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 earnings per share.

A number of equities analysts have recently commented on MCFT shares. Zacks Investment Research upgraded Mastercraft Boat from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, May 15th. ValuEngine lowered Mastercraft Boat from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Finally, BidaskClub lowered Mastercraft Boat from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Mastercraft Boat has a consensus rating of “Buy” and an average target price of $35.17.

In related news, insider Patrick May bought 4,185 shares of Mastercraft Boat stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average cost of $24.06 per share, with a total value of $100,691.10. Following the purchase, the insider now owns 5,744 shares in the company, valued at $138,200.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frederick A. Brightbill sold 5,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $20.84, for a total transaction of $104,200.00. Following the completion of the transaction, the director now directly owns 29,323 shares of the company’s stock, valued at $611,091.32. The disclosure for this sale can be found here. 2.79% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MCFT. Systematic Financial Management LP purchased a new stake in shares of Mastercraft Boat during the first quarter valued at $11,347,000. Rice Hall James & Associates LLC increased its position in shares of Mastercraft Boat by 628.9% during the 1st quarter. Rice Hall James & Associates LLC now owns 564,808 shares of the company’s stock valued at $12,748,000 after purchasing an additional 487,325 shares during the period. Wasatch Advisors Inc. acquired a new position in shares of Mastercraft Boat during the 1st quarter valued at $6,783,000. Divisar Capital Management LLC increased its position in shares of Mastercraft Boat by 48.3% during the 4th quarter. Divisar Capital Management LLC now owns 825,600 shares of the company’s stock valued at $15,439,000 after purchasing an additional 268,719 shares during the period. Finally, Shellback Capital LP increased its position in shares of Mastercraft Boat by 465.0% during the 4th quarter. Shellback Capital LP now owns 294,077 shares of the company’s stock valued at $5,499,000 after purchasing an additional 242,029 shares during the period. 95.52% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:MCFT opened at $19.59 on Friday. The firm has a market capitalization of $377.96 million, a price-to-earnings ratio of 9.65, a P/E/G ratio of 0.74 and a beta of 1.80. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.38 and a current ratio of 0.79. The company has a 50 day moving average of $21.79. Mastercraft Boat has a 12-month low of $17.60 and a 12-month high of $39.50.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. The company operates in two segments, MasterCraft and NauticStar. It offers sport boats and outboard boats, which are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating.

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Earnings History and Estimates for Mastercraft Boat (NASDAQ:MCFT)

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