KeyCorp Reaffirms “Buy” Rating for Malibu Boats, Inc. (MBUU)
Several other research analysts have also recently weighed in on the company. B. Riley cut Malibu Boats from a buy rating to a neutral rating and reduced their price objective for the stock from $26.00 to $25.25 in a research report on Monday, August 28th. BMO Capital Markets upgraded Malibu Boats from a market perform rating to an outperform rating and upped their target price for the stock from $29.00 to $32.00 in a report on Monday, September 11th. Zacks Investment Research upgraded Malibu Boats from a hold rating to a strong-buy rating and set a $30.00 target price on the stock in a report on Thursday, September 7th. ValuEngine upgraded Malibu Boats from a buy rating to a strong-buy rating in a report on Wednesday, September 6th. Finally, SunTrust Banks, Inc. reiterated a buy rating and set a $32.00 target price (up previously from $30.00) on shares of Malibu Boats in a report on Friday, September 8th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $30.07.
Shares of Malibu Boats (NASDAQ:MBUU) opened at 31.71 on Friday. The stock’s 50 day moving average price is $30.12 and its 200-day moving average price is $26.47. Malibu Boats has a 1-year low of $14.28 and a 1-year high of $33.35. The stock has a market capitalization of $643.30 million, a P/E ratio of 20.07 and a beta of 1.03.
Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, September 7th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $75.11 million during the quarter, compared to analysts’ expectations of $73.35 million. Malibu Boats had a return on equity of 78.71% and a net margin of 10.06%. Malibu Boats’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. Equities research analysts anticipate that Malibu Boats will post $1.88 EPS for the current fiscal year.
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In related news, Director Peter E. Murphy bought 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $25.50 per share, for a total transaction of $76,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC raised its stake in Malibu Boats by 1.9% in the second quarter. Lord Abbett & CO. LLC now owns 873,928 shares of the company’s stock valued at $22,609,000 after buying an additional 16,256 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in Malibu Boats by 183.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 26,058 shares of the company’s stock valued at $674,000 after buying an additional 16,875 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Malibu Boats in the second quarter valued at approximately $518,000. Susquehanna International Group LLP bought a new stake in Malibu Boats in the second quarter valued at approximately $200,000. Finally, State Street Corp raised its stake in Malibu Boats by 2.6% in the second quarter. State Street Corp now owns 402,640 shares of the company’s stock valued at $10,412,000 after buying an additional 10,308 shares during the period. Hedge funds and other institutional investors own 90.12% 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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