Zacks Investment Research upgraded shares of Malibu Boats (NASDAQ:MBUU) from a hold rating to a buy rating in a research note released on Thursday, Zacks.com reports. They currently have $53.00 target price on the stock.
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. “
A number of other research firms have also recently commented on MBUU. B. Riley boosted their target price on shares of Malibu Boats from $52.00 to $55.00 and gave the stock a buy rating in a research report on Friday, February 7th. ValuEngine raised shares of Malibu Boats from a sell rating to a hold rating in a research report on Tuesday, February 4th. Berenberg Bank started coverage on shares of Malibu Boats in a research report on Wednesday, January 15th. They set a buy rating and a $50.00 target price on the stock. BMO Capital Markets reissued an outperform rating and set a $60.00 target price on shares of Malibu Boats in a research report on Friday, February 7th. Finally, KeyCorp boosted their target price on shares of Malibu Boats from $48.00 to $58.00 and gave the stock an overweight rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $52.00.
MBUU stock traded down $1.31 during midday trading on Thursday, reaching $49.86. 186,297 shares of the company’s stock traded hands, compared to its average volume of 160,439. The business has a 50-day moving average price of $43.07 and a two-hundred day moving average price of $35.36. Malibu Boats has a fifty-two week low of $24.79 and a fifty-two week high of $51.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.55 and a quick ratio of 0.61. The company has a market capitalization of $974.48 million, a P/E ratio of 14.25, a PEG ratio of 1.23 and a beta of 1.97.
Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, February 6th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.24. Malibu Boats had a net margin of 9.79% and a return on equity of 39.76%. The business had revenue of $180.10 million for the quarter, compared to analysts’ expectations of $164.13 million. During the same period in the previous year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts forecast that Malibu Boats will post 3.84 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of MBUU. Aigen Investment Management LP acquired a new stake in Malibu Boats in the fourth quarter valued at $30,000. Great West Life Assurance Co. Can acquired a new stake in Malibu Boats in the fourth quarter valued at $50,000. Acadian Asset Management LLC acquired a new stake in Malibu Boats in the fourth quarter valued at $73,000. Boston Partners acquired a new stake in Malibu Boats in the fourth quarter valued at $98,000. Finally, SG Americas Securities LLC acquired a new stake in Malibu Boats in the third quarter valued at $146,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.
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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