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Friday, MasterCraft Boat Holdings (NASDAQ:MCFT) experienced a revision in its financial outlook as DA Davidson analyst Brandon Rolle adjusted the company’s price target from $23.00 to $22.00. Despite this change, the firm maintained a neutral stance on the stock. The modification followed MasterCraft’s announcement of a second-quarter earnings beat for fiscal year 2025 and a refinement of their full-year guidance. The stock, currently trading at $19.91, sits within a broader analyst target range of $18-26, according to InvestingPro data, which shows three analysts have recently revised their earnings estimates upward.
The company’s shares saw an uptick after they reported earnings that surpassed expectations and provided a narrowed forecast for FY25, with the stock posting a significant 16.31% return over the past week. MasterCraft also commented on the current retail environment, describing it as lukewarm and highlighting a mixed performance at recent boat shows. This observation aligns with DA Davidson’s latest checks within the boat industry. InvestingPro analysis reveals additional insights about the company’s financial health, with 12 key ProTips available to subscribers.
Rolle noted that MasterCraft still needs to address the destocking of field inventory during the second half of fiscal year 2025. Despite the positive earnings surprise, these factors contributed to the decision to maintain the neutral rating and to revise the price target downward. The new target is based on a price-to-earnings (P/E) multiple of 13.0 times the firm’s fiscal year 2026 earnings estimate of $1.70 per share, which stands in contrast to the consensus estimate of $1.50.
MasterCraft’s recent financial performance and the subsequent adjustment by DA Davidson reflect the company’s current market position and industry trends. The price target adjustment to $22.00 from the previous $23.00 is indicative of the challenges and expectations that lie ahead for MasterCraft as they navigate through the latter half of fiscal year 2025.
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