Malibu Boats (NASDAQ:MBUU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $33.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.74% from the company’s current price.
According to Zacks, “Malibu Boats, Inc. operates as a designer, manufacturer and marketer of sport boats primarily in the United States. The Company sells its boats under two brands: Malibu and Axis Wake Research. Its sport boats used for water sports including water skiing, wakeboarding and wake surfing as well as for general recreational boating use. Malibu Boats, Inc. is based in Loudon, United States. “
MBUU has been the subject of several other research reports. BMO Capital Markets increased their target price on Malibu Boats from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, November 13th. KeyCorp reissued a “buy” rating and issued a $33.00 target price on shares of Malibu Boats in a research report on Friday, November 10th. Wells Fargo & Co reissued an “outperform” rating and issued a $36.00 target price (up previously from $30.00) on shares of Malibu Boats in a research report on Wednesday, November 8th. SunTrust Banks reissued a “buy” rating and issued a $34.00 target price on shares of Malibu Boats in a research report on Friday, November 10th. Finally, Aegis started coverage on Malibu Boats in a research report on Monday, October 2nd. They issued a “buy” rating and a $37.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Malibu Boats presently has a consensus rating of “Buy” and a consensus target price of $32.44.
Malibu Boats (NASDAQ:MBUU) traded up $0.72 on Tuesday, reaching $29.80. The company’s stock had a trading volume of 107,100 shares, compared to its average volume of 178,673. The company has a market cap of $592.48, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 0.99 and a beta of 1.00. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.46 and a quick ratio of 0.71. Malibu Boats has a fifty-two week low of $17.17 and a fifty-two week high of $33.35.
Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Tuesday, November 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.09. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. analysts anticipate that Malibu Boats will post 1.96 earnings per share for the current fiscal year.
In related news, VP Deborah S. Kent sold 1,497 shares of the company’s 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 accessible through this hyperlink. Also, CFO Wayne R. Wilson sold 35,000 shares of the company’s 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 a total of 131,497 shares of company stock worth $3,964,297 in the last 90 days. 3.50% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. grew its stake in shares of Malibu Boats by 3.1% in the 2nd quarter. Prudential Financial Inc. now owns 169,440 shares of the company’s stock worth $4,383,000 after buying an additional 5,140 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in shares of Malibu Boats in the 2nd quarter worth approximately $269,000. GSA Capital Partners LLP grew its stake in shares of Malibu Boats by 5.1% in the 3rd quarter. GSA Capital Partners LLP now owns 94,678 shares of the company’s stock worth $2,996,000 after buying an additional 4,574 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Malibu Boats by 10.7% in 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 during the last quarter. Finally, State Street Corp grew its stake in shares of Malibu Boats by 2.6% in the 2nd quarter. State Street Corp now owns 402,640 shares of the company’s stock worth $10,412,000 after buying an additional 10,308 shares during the last quarter.
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Malibu Boats Company Profile
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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