Malibu Boats Inc (NASDAQ:MBUU) has been given an average rating of “Buy” by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $35.28.
Several analysts have weighed in on MBUU shares. SunTrust Banks reiterated a “buy” rating and set a $34.00 target price on shares of Malibu Boats in a research note on Friday, November 10th. KeyCorp reiterated a “buy” rating and issued a $33.00 target price on shares of Malibu Boats in a report on Friday, November 10th. BidaskClub upgraded Malibu Boats from a “hold” rating to a “buy” rating in a report on Friday, December 29th. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, January 16th. Finally, ValuEngine upgraded Malibu Boats from a “hold” rating to a “buy” rating in a report on Friday, February 2nd.
In related news, VP Deborah S. Kent sold 1,497 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $31.16, for a total value of $46,646.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Wayne R. Wilson sold 35,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $31.20, for a total value of $1,092,000.00. The disclosure for this sale can be found here. Insiders sold 91,497 shares of company stock worth $2,853,897 in the last 90 days. 3.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in MBUU. Alliancebernstein L.P. bought a new position in Malibu Boats during the second quarter worth about $269,000. Northern Trust Corp raised its holdings in shares of Malibu Boats by 3.0% during the 2nd quarter. Northern Trust Corp now owns 262,097 shares of the company’s stock worth $6,781,000 after buying an additional 7,735 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Malibu Boats by 10.7% during the 2nd quarter. Vanguard Group Inc. now owns 893,667 shares of the company’s stock worth $23,120,000 after buying an additional 86,128 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Malibu Boats by 28.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 483,670 shares of the company’s stock worth $12,513,000 after buying an additional 107,413 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Malibu Boats by 14.9% during the 2nd quarter. Voya Investment Management LLC now owns 10,529 shares of the company’s stock worth $272,000 after buying an additional 1,366 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.
Shares of Malibu Boats (NASDAQ MBUU) traded up $0.53 during mid-day trading on Friday, reaching $34.52. 180,200 shares of the company’s stock were exchanged, compared to its average volume of 218,869. The firm has a market capitalization of $707.99, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.07. The company has a current ratio of 1.70, a quick ratio of 0.92 and a debt-to-equity ratio of 0.98. Malibu Boats has a 1 year low of $20.21 and a 1 year high of $35.90.
Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Friday, February 9th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Malibu Boats had a net margin of 4.64% and a return on equity of 44.97%. The firm had revenue of $114.37 million for the quarter, compared to analysts’ expectations of $108.84 million. During the same period in the previous year, the company posted $0.38 earnings per share. Malibu Boats’s revenue was up 69.0% compared to the same quarter last year. research analysts anticipate that Malibu Boats will post 2.19 earnings per share for the current fiscal year.
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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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