MasterCraft Boat Holdings Inc. (NASDAQ: MCFT) stock fell -4.65% on Friday to $21.33 against a previous-day closing price of $22.37. With 0.55 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.25 million shares. During the session, the Recreational Vehicles company that operates in wider Consumer Cyclical sector, reached to the highest price of $22.27 whereas the lowest price it dropped to was $21.28. The 52-week range on MCFT shows that it touched its highest point at $35.29 and its lowest point at $18.49 during that stretch. It currently has a 1-year price target of $26.00. Beta for the stock currently stands at 1.83.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MCFT was up-trending over the past week, with a rise of 0.05%, but this was down by -17.71% over a month. Three-month performance dropped to -30.07% while six-month performance fell -34.17%. The stock lost -0.42% in the past year, while it has lost -17.55% so far this year. A look at the trailing 12-month EPS for MCFT yields 5.09 with Next year EPS estimates of 2.54. For the next quarter, that number is 0.40. This implies an EPS growth rate of 7.90% for this year and 41.03% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 19.60%.
Float and Shares Shorts:
At present, 17.30 million MCFT shares are outstanding with a float of 16.73 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.61 million, which was 9.38% higher than short shares on Jul 30, 2023. In addition to MSFT as the firm’s Microsoft Corporation, MCFT serves as its MasterCraft Boat Holdings, Inc.
Through their ownership of 102.58% of MCFT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 66.50% of MCFT, in contrast to 38.97% held by mutual funds. Shares owned by individuals account for 13.82%. As the largest shareholder in MCFT with 9.81% of the stake, Coliseum Capital Management LLC holds 1,716,974 shares worth 1,716,974. A second-largest stockholder of MCFT, The Vanguard Group, Inc., holds 1,291,233 shares, controlling over 7.38% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in MCFT, holding 1,244,234 shares or 7.11% stake. With a 3.71% stake in MCFT, the American Funds Small Cap World Fu is the largest stakeholder. A total of 649,032 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.97% of MCFT stock, is the second-largest Mutual Fund holder. It holds 519,098 shares valued at 11.3 million. iShares Russell 2000 ETF holds 2.21% of the stake in MCFT, owning 386,735 shares worth 8.42 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, MCFT reported revenue of $217.65M and operating income of $39.61M. The EBITDA in the recently reported quarter was $40.59M and diluted EPS was $0.63.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MCFT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MCFT analysts setting a high price target of $33.00 and a low target of $22.00, the average target price over the next 12 months is $26.00. Based on these targets, MCFT could surge 54.71% to reach the target high and rise by 3.14% to reach the target low. Reaching the average price target will result in a growth of 21.89% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded MCFT stock several times over the past three months with 0 Buys and 8 Sells. In these transactions, 0 shares were bought while 14,919 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 15,146 while 364,829 shares were sold.