Malibu Boats, Inc. (NASDAQ:MBUU) had its price target raised by BMO Capital Markets from $32.00 to $34.00 in a report released on Monday. BMO Capital Markets currently has an outperform rating on the stock.
MBUU has been the topic of a number of other reports. ValuEngine cut Malibu Boats from a strong-buy rating to a buy rating in a research note on Monday, October 2nd. SunTrust Banks, Inc. reissued a buy rating and set a $34.00 target price on shares of Malibu Boats in a research note on Friday. B. Riley reissued a neutral rating and set a $29.50 target price (up from $25.50) on shares of Malibu Boats in a research note on Monday, November 6th. BidaskClub cut Malibu Boats from a strong-buy rating to a buy rating in a research note 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 target price on the stock in a research note on Saturday, August 12th. Two 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 stock. The stock presently has an average rating of Buy and a consensus target price of $32.31.
Shares of Malibu Boats (MBUU) traded up $0.26 during midday trading on Monday, hitting $28.06. The company had a trading volume of 213,500 shares, compared to its average volume of 186,258. The stock has a market cap of $562.94, a PE ratio of 16.55, a price-to-earnings-growth ratio of 0.97 and a beta of 1.02. The company has a current ratio of 1.46, a quick ratio of 0.71 and a debt-to-equity ratio of 0.94. Malibu Boats has a 52 week low of $16.66 and a 52 week high of $33.35.
Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, September 7th. The company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The company had revenue of $75.11 million for the quarter, compared to analysts’ expectations of $73.35 million. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. Malibu Boats’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS. sell-side analysts anticipate 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 business’s stock in a transaction that occurred 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 legal filing with the SEC, which is available through the SEC website. 3.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its position in shares of Malibu Boats by 3.1% during the second quarter. Prudential Financial Inc. now owns 169,440 shares of the company’s stock valued at $4,383,000 after purchasing an additional 5,140 shares in the last quarter. AJO LP bought a new stake in shares of Malibu Boats during the second quarter valued at approximately $5,025,000. Bank of America Corp DE boosted its position in shares of Malibu Boats by 48.2% during the first quarter. Bank of America Corp DE now owns 72,202 shares of the company’s stock valued at $1,621,000 after purchasing an additional 23,474 shares in the last quarter. Chicago Equity Partners LLC boosted its position in shares of Malibu Boats by 114.0% during the second quarter. Chicago Equity Partners LLC now owns 100,902 shares of the company’s stock valued at $2,610,000 after purchasing an additional 53,747 shares in the last quarter. Finally, First Quadrant L P CA boosted its position in shares of Malibu Boats by 60.5% during the second quarter. First Quadrant L P CA now owns 28,242 shares of the company’s stock valued at $731,000 after purchasing an additional 10,642 shares in the last quarter. Institutional investors own 91.09% of the company’s stock.
About Malibu Boats
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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