Malibu Boats (NASDAQ:MBUU) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday.
A number of other analysts have also commented on the company. Wells Fargo & Co upgraded Malibu Boats from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $44.00 to $51.00 in a report on Thursday, August 23rd. BMO Capital Markets lifted their price target on Malibu Boats from $48.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, September 7th. ValuEngine upgraded Malibu Boats from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Raymond James boosted their target price on Malibu Boats from $48.00 to $61.00 and gave the company a “strong-buy” rating in a research note on Friday, September 7th. Finally, SunTrust Banks boosted their target price on Malibu Boats to $60.00 and gave the company a “buy” rating in a research note on Friday, September 7th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.14.
Malibu Boats stock traded down $1.57 during mid-day trading on Friday, reaching $45.79. 133,800 shares of the company’s stock were exchanged, compared to its average volume of 194,232. The firm has a market capitalization of $1.01 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 1.03 and a beta of 1.12. Malibu Boats has a one year low of $27.44 and a one year high of $59.57. The company has a current ratio of 2.05, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, September 6th. The company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.17. The business had revenue of $138.66 million for the quarter, compared to analyst estimates of $122.65 million. Malibu Boats had a return on equity of 43.60% and a net margin of 5.56%. Malibu Boats’s quarterly revenue was up 84.6% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. Analysts predict that Malibu Boats will post 3.17 EPS for the current fiscal year.
In other Malibu Boats news, CFO Wayne R. Wilson sold 14,088 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $52.34, for a total value of $737,365.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Clair William Paxson St, Jr. sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $52.60, for a total value of $789,000.00. Following the completion of the sale, the insider now owns 24,262 shares in the company, valued at $1,276,181.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,823 shares of company stock worth $11,390,169. Corporate insiders own 3.35% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. First Hawaiian Bank bought a new stake in shares of Malibu Boats in the third quarter valued at $235,000. Moody Aldrich Partners LLC raised its stake in shares of Malibu Boats by 14.6% during the 2nd quarter. Moody Aldrich Partners LLC now owns 66,131 shares of the company’s stock valued at $2,774,000 after purchasing an additional 8,441 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Malibu Boats by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 154,158 shares of the company’s stock valued at $6,465,000 after purchasing an additional 12,369 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Malibu Boats during the 2nd quarter valued at $2,193,000. Finally, Millennium Management LLC raised its stake in shares of Malibu Boats by 1,966.0% during the 2nd quarter. Millennium Management LLC now owns 285,726 shares of the company’s stock valued at $11,983,000 after purchasing an additional 271,896 shares during the period. Hedge funds and other institutional investors own 97.82% of the company’s stock.
Malibu Boats Company Profile
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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