Malibu Boats (NASDAQ:MBUU) issued its quarterly earnings data on Tuesday. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.54 by $0.13, MarketWatch Earnings reports. The firm had revenue of $123.50 million during the quarter, compared to the consensus estimate of $113.67 million. Malibu Boats had a return on equity of 43.60% and a net margin of 5.56%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share.
Shares of MBUU stock traded up $5.81 during trading on Tuesday, hitting $47.81. The company’s stock had a trading volume of 11,646 shares, compared to its average volume of 228,231. The firm has a market cap of $874.33 million, a PE ratio of 18.99, a P/E/G ratio of 0.89 and a beta of 1.45. The company has a quick ratio of 1.37, a current ratio of 2.05 and a debt-to-equity ratio of 0.78. Malibu Boats has a 52 week low of $27.44 and a 52 week high of $59.57.
Several analysts have recently commented on MBUU shares. Wells Fargo & Co raised Malibu Boats from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $44.00 to $51.00 in a research note on Thursday, August 23rd. BMO Capital Markets increased their price objective on Malibu Boats from $48.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, September 7th. BidaskClub raised Malibu Boats from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 6th. ValuEngine raised Malibu Boats from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Finally, Raymond James upped their target price on Malibu Boats from $48.00 to $61.00 and gave the company a “strong-buy” rating in a report on Friday, September 7th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Malibu Boats currently has a consensus rating of “Buy” and a consensus target price of $57.14.
In other news, Director Phillip S. Estes sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $52.87, for a total value of $4,229,600.00. Following the completion of the transaction, the director now directly owns 28,298 shares of the company’s stock, valued at $1,496,115.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Clair William Paxson St, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 24,262 shares of the company’s stock, valued at $1,276,181.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,823 shares of company stock valued at $11,390,169. 3.35% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in Malibu Boats during the second quarter valued at $512,000. Affinity Investment Advisors LLC bought a new position in Malibu Boats during the second quarter valued at $229,000. Macquarie Group Ltd. grew its holdings in Malibu Boats by 10.0% during the second quarter. Macquarie Group Ltd. now owns 1,280,397 shares of the company’s stock valued at $53,700,000 after purchasing an additional 115,989 shares during the period. Renaissance Technologies LLC grew its holdings in Malibu Boats by 31.1% during the second quarter. Renaissance Technologies LLC now owns 649,500 shares of the company’s stock valued at $27,240,000 after purchasing an additional 154,200 shares during the period. Finally, Alps Advisors Inc. grew its holdings in Malibu Boats by 25.3% during the second quarter. Alps Advisors Inc. now owns 17,447 shares of the company’s stock valued at $519,000 after purchasing an additional 3,519 shares during the period. 97.30% of the stock is owned by institutional investors.
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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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