Malibu Boats, Inc. (NASDAQ:MBUU) Rating Reiterated by B. Riley

Malibu Boats, Inc. (NASDAQ:MBUU)‘s stock had its “neutral” rating reiterated by research analysts at B. Riley in a research report issued to clients and investors on Monday, November 6th. They presently have a $29.50 price target on the stock, up from their prior price target of $25.50. B. Riley’s price objective would suggest a potential upside of 2.93% from the stock’s previous close. B. Riley also issued estimates for Malibu Boats’ Q1 2018 earnings at $0.35 EPS, Q2 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.57 EPS, Q4 2018 earnings at $0.41 EPS, FY2018 earnings at $1.84 EPS and FY2019 earnings at $2.03 EPS.

Other research analysts have also recently issued reports about the company. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Malibu Boats in a report on Friday, September 8th. KeyCorp reiterated a “buy” rating and issued a $31.00 price objective on shares of Malibu Boats in a report on Friday, October 20th. BMO Capital Markets reiterated a “buy” rating and issued a $32.00 price objective on shares of Malibu Boats in a report on Friday, October 13th. ValuEngine cut Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Aegis started coverage on Malibu Boats in a research note on Monday, October 2nd. They set a “buy” rating and a $37.00 price target on the stock. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $32.31.

Malibu Boats (MBUU) traded down $0.24 during mid-day trading on Monday, hitting $28.66. The stock had a trading volume of 53,958 shares, compared to its average volume of 245,069. The company has a quick ratio of 0.71, a current ratio of 1.46 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $588.81, a price-to-earnings ratio of 17.20, a PEG ratio of 1.01 and a beta of 1.02. Malibu Boats has a 1-year low of $17.17 and a 1-year high of $33.35.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, September 7th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. The business had revenue of $75.11 million during the quarter, compared to analyst estimates of $73.35 million. During the same period in the prior year, the business earned $0.38 earnings per share. The business’s revenue was up 12.6% compared to the same quarter last year. equities research analysts forecast that Malibu Boats will post 1.91 earnings per share for the current fiscal year.

In other news, CEO Jackie D. Jr. Springer sold 40,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $27.76, for a total transaction of $1,110,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of MBUU. Bank of New York Mellon Corp increased its holdings in Malibu Boats by 65.1% in the first quarter. Bank of New York Mellon Corp now owns 112,720 shares of the company’s stock valued at $2,530,000 after buying an additional 44,431 shares during the last quarter. American International Group Inc. increased its holdings in Malibu Boats by 7.1% in the first quarter. American International Group Inc. now owns 11,115 shares of the company’s stock valued at $250,000 after buying an additional 733 shares during the last quarter. Teachers Advisors LLC increased its holdings in Malibu Boats by 15.7% in the first quarter. Teachers Advisors LLC now owns 38,933 shares of the company’s stock valued at $874,000 after buying an additional 5,282 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in Malibu Boats by 43.1% in the first quarter. TIAA CREF Investment Management LLC now owns 79,926 shares of the company’s stock valued at $1,794,000 after buying an additional 24,062 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Malibu Boats by 5.8% in the first quarter. California Public Employees Retirement System now owns 67,400 shares of the company’s stock valued at $1,513,000 after buying an additional 3,700 shares during the last quarter. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

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Malibu Boats Company Profile

Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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