B.Riley FBR Reaffirms Their Buy Rating on MasterCraft Boat Holdings Inc (MCFT)

B.Riley FBR analyst Eric Wold maintained a Buy rating on MasterCraft Boat Holdings Inc (MCFT) today and set a price target of $29. The company’s shares closed last Monday at $13.99, close to its 52-week low of $13.33.

Wold commented:

“Before the open on Holdings (MCFT) reported 4Q19 results that were mixed vs. our/consensus expectations with slightly lower-than-expected net sales offset by stronger-than-anticipated AEBITDA margins. While we previewed an expectation that management would start off FY20 with conservative guidance given recent choppy demand trends and uncertainty around the economic outlook heading into an election cycle (and lowered our estimates in anticipation of this guidance), we were clearly not aggressive enough with our estimate cuts and did not anticipate management taking this hard of a stance on sell-in and dealer open-order outlooks heading into year end (and the upcoming boat show season).”

According to TipRanks.com, Wold has 0 stars on 0-5 star ranking scale with an average return of -4.1% and a 39.9% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.

Currently, the analyst consensus on MasterCraft Boat Holdings Inc is a Moderate Buy with an average price target of $29.

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Based on MasterCraft Boat Holdings Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $10.06 million. In comparison, last year the company had a net profit of $13.14 million.

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Mastercraft Boat Holdings, Inc. engages in the design, manufacture, and sale of boats. It operates through the MasterCraft and NauticStar segment. The MasterCraft segment offers recreational performance boats used for water skiing, wakeboarding, and wake surfing activities.

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