Malibu Boats Inc (NASDAQ:MBUU) – Stock analysts at SunTrust Banks boosted their Q2 2019 earnings estimates for Malibu Boats in a research report issued to clients and investors on Tuesday, November 6th. SunTrust Banks analyst M. Swartz now forecasts that the company will post earnings of $0.73 per share for the quarter, up from their previous estimate of $0.68. SunTrust Banks has a “Buy” rating and a $60.00 price objective on the stock. SunTrust Banks also issued estimates for Malibu Boats’ Q3 2019 earnings at $1.00 EPS, Q4 2019 earnings at $0.93 EPS and FY2019 earnings at $3.32 EPS.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.13. Malibu Boats had a return on equity of 44.97% and a net margin of 6.39%. The firm had revenue of $123.50 million for the quarter, compared to analyst estimates of $113.67 million. During the same period last year, the company earned $0.31 EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis.
A number of other analysts have also issued reports on the company. Zacks Investment Research raised Malibu Boats from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Saturday. BidaskClub lowered Malibu Boats from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine lowered Malibu Boats from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. B. Riley raised Malibu Boats from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.50 to $60.00 in a research note on Monday, September 17th. Finally, Raymond James raised their price objective on Malibu Boats from $48.00 to $61.00 and gave the stock a “strong-buy” rating in a report on Friday, September 7th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $56.57.
Shares of NASDAQ:MBUU opened at $47.21 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.37 and a debt-to-equity ratio of 0.71. Malibu Boats has a 12-month low of $27.56 and a 12-month high of $59.57. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.03 and a beta of 1.45.
In other news, insider Clair William Paxson St, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $52.60, for a total value of $789,000.00. Following the transaction, the insider now directly owns 24,262 shares in the company, valued at approximately $1,276,181.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Phillip S. Estes sold 80,000 shares of the firm’s stock in a transaction dated 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 owns 28,298 shares in the company, valued at $1,496,115.26. 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. Company insiders own 3.35% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Malibu Boats during the 3rd quarter valued at about $197,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Malibu Boats during the 2nd quarter valued at about $200,000. ClariVest Asset Management LLC purchased a new stake in shares of Malibu Boats during the 3rd quarter valued at about $215,000. Affinity Investment Advisors LLC purchased a new stake in shares of Malibu Boats during the 2nd quarter valued at about $229,000. Finally, Brown Advisory Inc. purchased a new stake in shares of Malibu Boats during the 2nd quarter valued at about $235,000. Institutional investors and hedge funds own 97.30% of the company’s stock.
About Malibu Boats
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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