Stock to Track: MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT)

MasterCraft Boat Holdings, Inc. stock identified change of 23.86% away from 52-week low price and recently located move of -50.97% off 52-week high price. It has market worth of $313.52M. MCFT stock has been recorded 8.89% away from 50 day moving average and -16.12% away from 200 day moving average. Moving closer, we can see that shares have been trading 7.81% off 20-day moving average.

MasterCraft Boat Holdings, Inc. (MCFT) recently reported financial results for its fiscal 2020 first quarter ended September 29, 2019.

First Quarter Highlights:

  • Net sales increased to $109.8M, up 17.2 percent from $93.6M in the prior-year period.
  • GAAP net income was $8.6M, up slightly from $8.5M in the prior-year period.
  • GAAP diluted earnings per share increased in the first quarter by $0.01, up 2.2 percent to $0.46, from the previous year period.
  • Diluted Adjusted Net Income per share, a non-GAAP measure, was $0.53 contrast to $0.54 in the prior-year period.
  • Adjusted EBITDA, a non-GAAP measure, rose 5.7 percent to $15.9M from $15.0M in the prior-year period.
  • New luxury day boat brand, Aviara, began selling during the first quarter and is included in our MasterCraft section results.

First Quarter Results

Net Sales for the first quarter were $109.8M, a raise of $16.1M, or 17.2 percent, contrast to $93.6M for the prior-year period. The increase was primarily Because of:

  • the inclusion of Crest, purchased during the second quarter of 2019, which contributed incremental net sales of $18.9M;
  • a $0.6M increase for NauticStar driven by higher wholesale average selling prices Because of a greater mix of larger products and price increases, partially offset by lower unit sales volumes; and
  • a $3.3M decrease for the MasterCraft section, primarily Because of lower unit sales volumes for our MasterCraft brand as we work to right-size our dealer inventory levels after the weather-influenced summer selling season, partially offset by a richer mix of higher-priced and higher-contented models. The decrease for the MasterCraft brand was partially offset by the start of sales for our new Aviara brand.

Gross profit increased $2.3M, or 10.0 percent, to $25.5M contrast to $23.2M for the prior-year period. The increase was primarily Because of the inclusion of Crest which grew gross profit by $2.6M.

Consolidated gross margin percentage reduced primarily Because of the inclusion of Crest, as Crest generates a lower gross margin percentage than our MasterCraft section. This dilutive effect on consolidated gross margin percentage was partially offset by margin improvement at our MasterCraft section, driven by price increases, lower discounts and lower materials cost relative to gross sales at our MasterCraft brand, and at NauticStar, primarily driven by price increases and operational efficiencies.

Operating expenses increased $1.2M, or 10.7 percent, to $12.8M for the first quarter contrast to $11.6M for the prior-year period. The increase was primarily Because of:

  • the inclusion of Crest which added $2.2M; partially offset by
  • a $1.1M decrease at our MasterCraft section Because of lower acquisition-related costs and lower selling and marketing costs partially offset by higher legal and professional fees.

Net Income for the first quarter was $8.6M, or $0.46 per share, reflecting a raise of $0.2M, or 1.9 percent, contrast to $8.5M, or $0.45 per share, for the prior-year period. Adjusted Net Income of $10.1M, or $0.53 per share, on a fully diluted, weighted average share count of 19.0M shares, was computed using the company’s estimated yearly effective tax rate of about 23.0 percent. This compares to Adjusted Net Income of $10.2M, or $0.54 per fully diluted share, in the prior-year period.

The Consumer Goods sector company, MasterCraft Boat Holdings, Inc. noticed change of 0.86% to $16.51 along volume of 220559 shares in recent session compared to an average volume of 310.79K. The stock observed return of -3.84% in 5 days trading activity. The stock was at 13.39% over one month performance. MCFT’s shares are at 9.41% for the quarter and driving a -46.17% return over the course of the past year and is now at -11.71% since this point in 2018.   The average volatility for the week at 4.51% and for month was at 4.15%. There are 18.99M shares outstanding and 18.2M shares are floated in market. Right now the stock beta is 1.69.