Malibu Boats (MBUU) Price Target Raised to $40.00

Malibu Boats (NASDAQ:MBUU) had its price target raised by BMO Capital Markets from $34.00 to $40.00 in a research report report published on Tuesday. The firm currently has a top pick rating on the stock.

MBUU has been the subject of several other reports. KeyCorp reissued a buy rating and set a $33.00 price target on shares of Malibu Boats in a research report on Friday, November 10th. Zacks Investment Research lowered shares of Malibu Boats from a strong-buy rating to a hold rating in a research report on Wednesday, January 10th. Wells Fargo & Co reissued an outperform rating and set a $36.00 price target (up from $30.00) on shares of Malibu Boats in a research report on Wednesday, November 8th. BidaskClub raised shares of Malibu Boats from a hold rating to a buy rating in a research report on Friday, January 26th. Finally, SunTrust Banks reissued a buy rating and set a $34.00 price target on shares of Malibu Boats in a research report on Friday, November 10th. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $35.28.

Shares of Malibu Boats (NASDAQ MBUU) traded down $0.73 during trading on Tuesday, reaching $33.99. 262,900 shares of the company’s stock traded hands, compared to its average volume of 219,166. The company has a current ratio of 1.70, a quick ratio of 0.71 and a debt-to-equity ratio of 0.98. Malibu Boats has a one year low of $20.21 and a one year high of $35.90. The company has a market cap of $712.09, a PE ratio of 34.68, a price-to-earnings-growth ratio of 1.05 and a beta of 1.07.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Friday, February 9th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.04. Malibu Boats had a net margin of 4.64% and a return on equity of 44.97%. The company had revenue of $114.37 million for the quarter, compared to analysts’ expectations of $108.84 million. During the same period in the prior year, the business earned $0.38 EPS. The firm’s quarterly revenue was up 69.0% on a year-over-year basis. research analysts predict that Malibu Boats will post 2.19 earnings per share for the current year.

In related news, VP Deborah S. Kent sold 1,497 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $31.16, for a total value of $46,646.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Wayne R. Wilson sold 35,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $31.20, for a total transaction of $1,092,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,497 shares of company stock valued at $2,853,897. Insiders own 3.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in MBUU. Tower Research Capital LLC TRC raised its position in shares of Malibu Boats by 126.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,445 shares of the company’s stock valued at $133,000 after purchasing an additional 2,485 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of Malibu Boats in the 2nd quarter valued at approximately $200,000. Two Sigma Securities LLC purchased a new position in shares of Malibu Boats in the 4th quarter valued at approximately $236,000. MetLife Investment Advisors LLC purchased a new position in shares of Malibu Boats in the 4th quarter valued at approximately $261,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Malibu Boats in the 2nd quarter valued at approximately $269,000.

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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.

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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