BidaskClub lowered shares of Malibu Boats (NASDAQ:MBUU) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
Several other research analysts have also weighed in on MBUU. ValuEngine lowered shares of Malibu Boats from a buy rating to a hold rating in a research report on Thursday, July 19th. Zacks Investment Research lowered shares of Malibu Boats from a buy rating to a hold rating in a research report on Wednesday, July 25th. Wells Fargo & Co upgraded shares of Malibu Boats from a market perform rating to an outperform rating and upped their target price for the stock from $44.00 to $51.00 in a research report on Thursday, August 23rd. B. Riley upped their target price on shares of Malibu Boats from $41.00 to $46.50 and gave the stock a neutral rating in a research report on Friday, September 7th. Finally, BMO Capital Markets upped their target price on shares of Malibu Boats from $48.00 to $62.00 and gave the stock an outperform rating in a research report on Friday, September 7th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Malibu Boats currently has an average rating of Buy and a consensus target price of $56.57.
Shares of MBUU opened at $47.21 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78. Malibu Boats has a twelve month low of $27.56 and a twelve month high of $59.57. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 1.03 and a beta of 1.45.
Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Tuesday, November 6th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.13. Malibu Boats had a net margin of 6.39% and a return on equity of 47.34%. The company had revenue of $123.50 million for the quarter, compared to analyst estimates of $113.67 million. During the same period in the prior year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities analysts anticipate that Malibu Boats will post 3.17 EPS for the current year.
In other news, CFO Wayne R. Wilson sold 14,088 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $52.34, for a total value of $737,365.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Clair William Paxson St, Jr. sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $52.60, for a total transaction of $789,000.00. Following the completion of the sale, the insider now owns 24,262 shares in the company, valued at $1,276,181.20. The disclosure for this sale can be found here. Insiders sold 215,823 shares of company stock worth $11,390,169 over the last quarter. Company insiders own 3.35% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MBUU. Millennium Management LLC grew its position in shares of Malibu Boats by 1,966.0% in the second quarter. Millennium Management LLC now owns 285,726 shares of the company’s stock valued at $11,983,000 after purchasing an additional 271,896 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Malibu Boats by 31.1% during the second quarter. Renaissance Technologies LLC now owns 649,500 shares of the company’s stock valued at $27,240,000 after buying an additional 154,200 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Malibu Boats by 10.0% during the second quarter. Macquarie Group Ltd. now owns 1,280,397 shares of the company’s stock valued at $53,700,000 after buying an additional 115,989 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Malibu Boats by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 761,143 shares of the company’s stock valued at $25,278,000 after buying an additional 85,358 shares during the period. Finally, Algert Global LLC purchased a new position in shares of Malibu Boats during the second quarter valued at approximately $3,350,000. Institutional investors and hedge funds own 97.30% of the company’s stock.
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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