Malibu Boats (NASDAQ:MBUU) Upgraded by BMO Capital Markets to “Outperform”


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BMO Capital Markets upgraded shares of Malibu Boats (NASDAQ:MBUU) from a market perform rating to an outperform rating in a report published on Wednesday morning, Anlyst Ratings reports. They currently have $86.00 price target on the stock, up from their prior price target of $56.00.

Other research analysts also recently issued reports about the company. B. Riley boosted their price objective on Malibu Boats from $80.00 to $85.00 and gave the company a buy rating in a research note on Tuesday. They noted that the move was a valuation call. Truist boosted their target price on Malibu Boats from $68.00 to $75.00 in a research report on Wednesday, January 6th. Robert W. Baird raised Malibu Boats from a neutral rating to an outperform rating and set a $64.00 price objective for the company in a report on Tuesday, September 22nd. Finally, Raymond James boosted their target price on Malibu Boats from $65.00 to $68.00 and gave the stock an outperform rating in a research note on Monday, January 4th. Nine analysts have rated the stock with a buy rating, Malibu Boats presently has an average rating of Buy and an average price target of $69.00.

Shares of NASDAQ:MBUU traded down $0.76 during mid-day trading on Wednesday, reaching $72.82. 7,310 shares of the stock were exchanged, compared to its average volume of 272,912. The company has a quick ratio of 0.92, a current ratio of 1.74 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.51 billion, a P/E ratio of 22.99 and a beta of 1.92. Malibu Boats has a one year low of $18.02 and a one year high of $81.81. The stock’s 50 day simple moving average is $62.55 and its 200-day simple moving average is $56.35.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Wednesday, November 11th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.25. Malibu Boats had a return on equity of 28.93% and a net margin of 10.09%. The business had revenue of $181.00 million during the quarter, compared to the consensus estimate of $178.94 million. During the same period last year, the company earned $0.83 earnings per share. Malibu Boats’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts anticipate that Malibu Boats will post 4.72 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Malibu Boats by 4.5% in the second quarter. Vanguard Group Inc. now owns 1,130,146 shares of the company’s stock valued at $58,711,000 after acquiring an additional 48,236 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Malibu Boats by 16.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 643,983 shares of the company’s stock valued at $31,916,000 after acquiring an additional 90,130 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Malibu Boats in the third quarter valued at $7,969,000. Bank of New York Mellon Corp increased its stake in Malibu Boats by 6.8% in the second quarter. Bank of New York Mellon Corp now owns 108,544 shares of the company’s stock valued at $5,639,000 after acquiring an additional 6,930 shares during the last quarter. Finally, RK Capital Management LLC increased its stake in Malibu Boats by 44.9% in the third quarter. RK Capital Management LLC now owns 106,800 shares of the company’s stock valued at $5,293,000 after acquiring an additional 33,100 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Company Profile

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Cobalt, and Pursuit. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Cobalt, and Pursuit brands.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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