Malibu Boats (NASDAQ:MBUU) Price Target Raised to $40.00

Malibu Boats (NASDAQ:MBUU) had its price target boosted by investment analysts at BMO Capital Markets from $34.00 to $40.00 in a report issued on Tuesday, February 13th. The brokerage currently has a “top pick” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 19.23% from the stock’s current price.

Several other analysts also recently issued reports on MBUU. KeyCorp reissued a “buy” rating and issued a $31.00 price objective on shares of Malibu Boats in a research note on Friday, October 20th. Zacks Investment Research downgraded shares of Malibu Boats from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $36.00 price target (up previously from $30.00) on shares of Malibu Boats in a research note on Wednesday, November 8th. B. Riley reaffirmed a “neutral” rating and set a $29.50 price target (up previously from $25.50) on shares of Malibu Boats in a research note on Monday, November 6th. Finally, SunTrust Banks reissued a “buy” rating and issued a $34.00 price objective on shares of Malibu Boats in a research note on Friday, November 10th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Malibu Boats presently has a consensus rating of “Buy” and an average target price of $35.28.

Shares of Malibu Boats (MBUU) traded down $0.21 during trading on Tuesday, hitting $33.55. The stock had a trading volume of 135,100 shares, compared to its average volume of 213,835. The stock has a market capitalization of $692.41, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.03 and a beta of 1.07. The company has a current ratio of 1.70, a quick ratio of 0.92 and a debt-to-equity ratio of 0.98. Malibu Boats has a 52-week low of $20.21 and a 52-week high of $35.90.

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

In other news, 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 value of $1,092,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jackie D. Jr. Springer sold 40,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $31.20, for a total transaction of $1,248,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,497 shares of company stock valued at $3,366,147. Insiders own 3.50% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its holdings in Malibu Boats by 126.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,445 shares of the company’s stock worth $133,000 after buying an additional 2,485 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Malibu Boats during the 2nd quarter worth approximately $200,000. Two Sigma Securities LLC acquired a new stake in Malibu Boats during the 4th quarter worth approximately $236,000. MetLife Investment Advisors LLC acquired a new stake in Malibu Boats during the 4th quarter worth approximately $261,000. Finally, Alliancebernstein L.P. acquired a new stake in Malibu Boats during the 2nd quarter worth approximately $269,000. 97.19% of the stock is owned by hedge funds and other institutional investors.

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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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