Malibu Boats, Inc. (NASDAQ:MBUU) had its target price raised by BMO Capital Markets from $32.00 to $34.00 in a report issued on Monday morning. The firm currently has an outperform rating on the stock.
MBUU has been the topic of several other reports. KeyCorp restated an overweight rating and set a $31.00 price objective on shares of Malibu Boats in a report on Wednesday, August 30th. Aegis started coverage on Malibu Boats in a report on Monday, October 2nd. They set a buy rating and a $37.00 price objective on the stock. B. Riley reaffirmed a neutral rating and set a $29.50 target price (up previously from $25.50) on shares of Malibu Boats in a research report on Monday, November 6th. Zacks Investment Research raised Malibu Boats from a hold rating to a strong-buy rating and set a $32.00 target price on the stock in a research report on Saturday, November 11th. Finally, Wells Fargo & Company reaffirmed an outperform rating and set a $36.00 target price (up previously from $30.00) on shares of Malibu Boats in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $32.31.
Shares of Malibu Boats (NASDAQ MBUU) traded down $0.03 during midday trading on Monday, hitting $28.39. The stock had a trading volume of 230,200 shares, compared to its average volume of 187,112. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.46. Malibu Boats has a 12-month low of $17.15 and a 12-month high of $33.35. The stock has a market capitalization of $575.77, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 0.99 and a beta of 1.02.
Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, September 7th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $75.11 million for the quarter, compared to the consensus estimate of $73.35 million. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. Malibu Boats’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. research analysts expect that Malibu Boats will post 1.91 EPS for the current year.
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In other Malibu Boats news, CEO Jackie D. Jr. Springer sold 40,000 shares of Malibu Boats stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $27.76, for a total transaction of $1,110,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Malibu Boats during the 2nd quarter valued at about $116,000. Susquehanna International Group LLP purchased a new position in shares of Malibu Boats during the 2nd quarter valued at about $200,000. Stevens Capital Management LP purchased a new position in shares of Malibu Boats during the 2nd quarter valued at about $201,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Malibu Boats during the 2nd quarter valued at about $211,000. Finally, Laurion Capital Management LP purchased a new position in shares of Malibu Boats during the 2nd quarter valued at about $211,000. Institutional investors and hedge funds own 91.09% of the company’s stock.
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.
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