BMO Capital Markets Boosts Malibu Boats (NASDAQ:MBUU) Price Target to $34.00

Malibu Boats (NASDAQ:MBUU) had its target price lifted by BMO Capital Markets from $32.00 to $34.00 in a research report sent to investors on Monday, November 13th. BMO Capital Markets currently has an outperform rating on the stock.

MBUU has been the topic of several other reports. ValuEngine lowered Malibu Boats from a strong-buy rating to a buy rating in a research report on Monday, October 2nd. SunTrust Banks reissued a buy rating and set a $34.00 price target on shares of Malibu Boats in a report on Friday, November 10th. B. Riley reissued a neutral rating and set a $29.50 price target (up from $25.50) on shares of Malibu Boats in a report on Monday, November 6th. BidaskClub lowered Malibu Boats from a strong-buy rating to a buy rating in a report on Saturday, August 5th. Finally, Zacks Investment Research raised Malibu Boats from a hold rating to a strong-buy rating and set a $29.00 price target on the stock in a report on Saturday, August 12th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $32.31.

Shares of Malibu Boats (MBUU) opened at $30.74 on Monday. Malibu Boats has a 52-week low of $17.17 and a 52-week high of $33.35. 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 firm has a market capitalization of $636.89, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 1.09 and a beta of 1.00.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, September 7th. The company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. The firm had revenue of $75.11 million for the quarter, compared to analyst estimates of $73.35 million. During the same period last year, the company earned $0.38 earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. equities analysts anticipate that Malibu Boats will post 1.91 EPS for the current fiscal year.

In related news, CFO Wayne R. Wilson sold 35,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $31.20, for a total transaction of $1,092,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jackie D. Jr. Springer sold 40,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $27.76, for a total value of $1,110,400.00. The disclosure for this sale can be found here. Insiders have sold 91,497 shares of company stock valued at $2,716,297 in the last ninety days. Company insiders own 3.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Malibu Boats in the 2nd quarter valued at $116,000. Susquehanna International Group LLP acquired a new position in shares of Malibu Boats in the 2nd quarter valued at $200,000. Stevens Capital Management LP acquired a new position in shares of Malibu Boats in the 2nd quarter valued at $201,000. Laurion Capital Management LP acquired a new position in shares of Malibu Boats in the 2nd quarter valued at $211,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Malibu Boats in the 2nd quarter valued at $211,000.

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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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