BMO Capital Markets Boosts Malibu Boats, Inc. (MBUU) Price Target to $34.00
Malibu Boats, Inc. (NASDAQ:MBUU) had its price objective boosted by BMO Capital Markets from $32.00 to $34.00 in a research note released on Monday. BMO Capital Markets currently has an outperform rating on the stock.
A number of other equities analysts have also weighed in on the company. SunTrust Banks, Inc. reiterated a buy rating and issued a $34.00 price target on shares of Malibu Boats in a research report on Friday, November 10th. KeyCorp reiterated a buy rating and issued a $33.00 price target on shares of Malibu Boats in a research report on Friday, November 10th. Zacks Investment Research upgraded Malibu Boats from a hold rating to a strong-buy rating and set a $32.00 price objective for the company in a research report on Saturday, November 11th. B. Riley restated a neutral rating and set a $29.50 price objective (up from $25.50) on shares of Malibu Boats in a research report on Monday, November 6th. Finally, Wells Fargo & Company restated an outperform rating and set a $36.00 price objective (up from $30.00) on shares of Malibu Boats in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $32.31.
Malibu Boats (MBUU) traded up $0.39 during trading hours on Monday, hitting $28.81. The company had a trading volume of 16,292 shares, compared to its average volume of 186,917. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.46 and a quick ratio of 0.71. Malibu Boats has a fifty-two week low of $16.66 and a fifty-two week high of $33.35. The firm has a market cap of $579.03, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 0.99 and a beta of 1.02.
Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, September 7th. The company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. The business had revenue of $75.11 million during the quarter, compared to analyst estimates of $73.35 million. During the same quarter last year, the company posted $0.38 EPS. Malibu Boats’s revenue for the quarter was up 12.6% on a year-over-year basis. analysts anticipate that Malibu Boats will post 1.91 EPS for the current year.
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In other news, CEO Jackie D. Jr. Springer sold 40,000 shares of Malibu Boats stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $27.76, for a total transaction of $1,110,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.50% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in MBUU. SG Americas Securities LLC acquired a new stake in shares of Malibu Boats during the 2nd quarter valued at about $116,000. Susquehanna International Group LLP acquired a new stake in shares of Malibu Boats during the 2nd quarter valued at about $200,000. Stevens Capital Management LP acquired a new stake in shares of Malibu Boats during the 2nd quarter valued at about $201,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Malibu Boats during the 2nd quarter valued at about $211,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Malibu Boats during the 2nd quarter valued at about $211,000. Institutional investors and hedge funds own 91.09% of the company’s stock.
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.
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