Zacks Investment Research upgraded shares of Malibu Boats, Inc. (NASDAQ:MBUU) from a hold rating to a strong-buy rating in a research report released on Saturday. The firm currently has $32.00 target price on the stock.

According to Zacks, “Malibu Boats, Inc. operates as a designer, manufacturer and marketer of sport boats primarily in the United States. The Company sells its boats under two brands: Malibu and Axis Wake Research. Its sport boats used for water sports including water skiing, wakeboarding and wake surfing as well as for general recreational boating use. Malibu Boats, Inc. is based in Loudon, United States. “

A number of other brokerages have also recently weighed in on MBUU. B. Riley cut Malibu Boats to a neutral rating and set a $25.25 price objective for the company. in a research note on Saturday, September 2nd. KeyCorp reaffirmed a buy rating and set a $31.00 target price on shares of Malibu Boats in a research report on Friday, October 20th. BMO Capital Markets raised Malibu Boats from a market perform rating to an outperform rating and upped their target price for the company from $29.00 to $32.00 in a research report on Monday, September 11th. SunTrust Banks, Inc. reaffirmed a buy rating and set a $32.00 target price (up from $30.00) on shares of Malibu Boats in a research report on Friday, September 8th. Finally, ValuEngine raised Malibu Boats from a buy rating to a strong-buy rating in a research report on Wednesday, September 6th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $32.31.

Shares of Malibu Boats (NASDAQ MBUU) opened at $28.06 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.46. The firm has a market capitalization of $566.40, a price-to-earnings ratio of 16.55, a P/E/G ratio of 0.97 and a beta of 1.02. Malibu Boats has a 12 month low of $16.66 and a 12 month high of $33.35.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, September 7th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The firm 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 29.43% and a net margin of 6.19%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 EPS. analysts anticipate that Malibu Boats will post 1.91 earnings per share for the current fiscal year.

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In other news, CEO Jackie D. Jr. Springer sold 40,000 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $27.76, for a total value of $1,110,400.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in MBUU. Hood River Capital Management LLC acquired a new position in shares of Malibu Boats in the second quarter valued at about $10,572,000. Boston Advisors LLC acquired a new position in shares of Malibu Boats in the second quarter valued at about $5,361,000. American Century Companies Inc. increased its holdings in shares of Malibu Boats by 42.5% in the third quarter. American Century Companies Inc. now owns 664,496 shares of the company’s stock valued at $21,025,000 after purchasing an additional 198,283 shares during the period. AJO LP acquired a new position in shares of Malibu Boats in the second quarter valued at about $5,025,000. Finally, Vanguard Group Inc. increased its holdings in shares of Malibu Boats by 22.1% in the first quarter. Vanguard Group Inc. now owns 807,539 shares of the company’s stock valued at $18,129,000 after purchasing an additional 146,263 shares during the period. 91.09% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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