Malibu Boats Inc (NASDAQ:MBUU) – Stock analysts at B. Riley upped their Q2 2019 earnings per share (EPS) estimates for shares of Malibu Boats in a research report issued to clients and investors on Wednesday, November 7th. B. Riley analyst E. Wold now forecasts that the company will post earnings per share of $0.77 for the quarter, up from their prior estimate of $0.72. B. Riley has a “Buy” rating and a $60.00 price objective on the stock. B. Riley also issued estimates for Malibu Boats’ Q3 2019 earnings at $1.04 EPS, Q4 2019 earnings at $0.91 EPS, Q1 2020 earnings at $0.75 EPS, Q2 2020 earnings at $0.88 EPS, Q3 2020 earnings at $1.11 EPS and Q4 2020 earnings at $0.99 EPS.
Other analysts also recently issued research reports about the stock. SunTrust Banks boosted their price objective on shares of Malibu Boats to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. BidaskClub upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. ValuEngine upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Zacks Investment Research upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Saturday. Finally, Wells Fargo & Co upgraded shares of Malibu Boats from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $44.00 to $51.00 in a research report on Thursday, August 23rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $56.57.
Shares of NASDAQ:MBUU opened at $47.21 on Friday. The company has a market cap of $1.02 billion, a PE ratio of 18.73, a P/E/G ratio of 1.03 and a beta of 1.45. The company has a quick ratio of 1.37, a current ratio of 2.19 and a debt-to-equity ratio of 0.71. Malibu Boats has a twelve month low of $27.56 and a twelve month high of $59.57.
Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.54 by $0.13. The company had revenue of $123.50 million during the quarter, compared to analysts’ expectations of $113.67 million. Malibu Boats had a net margin of 6.39% and a return on equity of 44.97%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS.
In other news, CFO Wayne R. Wilson sold 14,088 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $52.34, for a total transaction of $737,365.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Ritchie L. Anderson sold 10,750 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $52.58, for a total transaction of $565,235.00. The disclosure for this sale can be found here. Insiders have sold a total of 215,823 shares of company stock valued at $11,390,169 in the last 90 days. Insiders own 3.35% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Malibu Boats in the 2nd quarter valued at $512,000. Affinity Investment Advisors LLC purchased a new stake in Malibu Boats in the 2nd quarter valued at $229,000. Macquarie Group Ltd. raised its position in Malibu Boats by 10.0% in the 2nd 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 last quarter. Renaissance Technologies LLC raised its position in Malibu Boats by 31.1% in the 2nd 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 last quarter. Finally, Engineers Gate Manager LP raised its position in Malibu Boats by 171.2% in the 3rd quarter. Engineers Gate Manager LP now owns 40,446 shares of the company’s stock valued at $2,213,000 after purchasing an additional 25,535 shares during the last quarter. Hedge funds and other institutional investors own 97.30% 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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