MasterCraft Is Going Digital For Its Dynamic Boat Show Season


MasterCraft Boat Holdings has launched a digital platform for its dynamic boat show season to engage digitally with its customers and dealer partners during the coronavirus pandemic.

MasterCraft’s (MCFT) digital platform, called the MasterCraft Experience Digital Boat Show, will provide a 360-degree experience showcasing new content. The show includes MasterCraft’s headquarters videos and videos of its exclusive model walkthroughs. It will also detail the MasterCraft brand and its 2021 innovations to facilitate the boat-buying process.

The recreational powerboats manufacturer said that, “The MasterCraft Experience Digital Boat Show will introduce the newest innovations onboard MasterCraft’s model year 2021 NXT, XT, X, XStar and ProStar models and give visitors everything they need to experience the MasterCraft difference from anywhere at any time.” Further, the digital boat show will be free of cost for its customers and can be accessed any time and on any device on its website. (See MCFT stock analysis on TipRanks)

Back on Nov. 11, MasterCraft reported upbeat 1Q results. Its adjusted earnings of $0.58 per share grew 7.4% year-over-year and beat the Street’s estimates of $0.33 per share. Its 1Q revenues of $103.7 million declined 5.5% year-over-year but exceeded analysts’ expectations of about $96.2 million.

On Jan. 12, B. Riley Securities analyst Eric Wold raised the stock’s price target to $36 (33.1% upside potential) from $34 and maintained a Buy rating on the stock.

In a note to investors, Wold said, “With new boat registrations surging after the initial COVID-19 economic shutdowns (with average Y/Y monthly gains of 31% between June and November), typical new boat replacement cycles disrupted, channel inventory levels remaining depleted and dealer order books extending out for at least a year, we expect the extended selling season to drive better-than-expected production and shipment levels.”

From the rest of the Street, the stock scores a cautiously optimistic outlook with the analyst consensus of a Moderate Buy. The average analyst price target of $29 implies upside potential of about 7.3% to current levels. Shares have gained about 79% in one year.

Furthermore, TipRanks data shows that financial bloggers have a bullish call on the stock.

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