Malibu Boats (NASDAQ:MBUU) had its price target hoisted by analysts at BMO Capital Markets from $48.00 to $62.00 in a report released on Friday. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 18.28% from the stock’s previous close.
A number of other research firms have also issued reports on MBUU. ValuEngine raised Malibu Boats from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Zacks Investment Research lowered Malibu Boats from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. BidaskClub lowered Malibu Boats from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Wells Fargo & Co raised Malibu Boats from a “market perform” rating to an “outperform” rating and increased their price target for the company from $44.00 to $51.00 in a research report on Thursday, August 23rd. Finally, B. Riley increased their price target on Malibu Boats from $41.00 to $46.50 and gave the company a “neutral” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Malibu Boats currently has an average rating of “Buy” and an average target price of $49.56.
Shares of Malibu Boats stock opened at $52.42 on Friday. Malibu Boats has a 12 month low of $25.98 and a 12 month high of $59.57. The stock has a market cap of $1.02 billion, a P/E ratio of 34.72, a PEG ratio of 1.20 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.87 and a quick ratio of 1.21.
Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, September 6th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.17. The company had revenue of $138.66 million for the quarter, compared to analyst estimates of $122.65 million. Malibu Boats had a return on equity of 45.08% and a net margin of 5.73%. Malibu Boats’s revenue for the quarter was up 84.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. equities analysts expect that Malibu Boats will post 2.37 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Mount Yale Investment Advisors LLC acquired a new stake in Malibu Boats in the 1st quarter valued at about $130,000. Cornerstone Wealth Management LLC acquired a new stake in shares of Malibu Boats during the 2nd quarter worth about $200,000. Affinity Investment Advisors LLC acquired a new stake in shares of Malibu Boats during the 2nd quarter worth about $229,000. Brown Advisory Inc. acquired a new stake in shares of Malibu Boats during the 2nd quarter worth about $235,000. Finally, Trexquant Investment LP acquired a new stake in shares of Malibu Boats during the 1st quarter worth about $282,000. 98.06% of the stock is currently owned by institutional investors.
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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