Malibu Boats, Inc. (MBUU) Receives $28.92 Average PT from Analysts
Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have been given an average recommendation of “Buy” by the nine brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $28.92.
A number of research firms recently weighed in on MBUU. B. Riley cut Malibu Boats to a “neutral” rating and set a $25.25 price target on the stock. in a research note on Saturday, September 2nd. BidaskClub lowered Malibu Boats from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research raised Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a report on Saturday, August 12th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Malibu Boats in a report on Friday, September 8th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $29.00 price objective on shares of Malibu Boats in a report on Wednesday, July 5th.
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Shares of Malibu Boats (NASDAQ MBUU) traded down 0.40% during midday trading on Wednesday, hitting $29.65. 232,034 shares of the stock traded hands. Malibu Boats has a 12-month low of $14.12 and a 12-month high of $30.55. The company has a market capitalization of $601.51 million, a PE ratio of 18.77 and a beta of 0.99. The firm’s 50 day moving average price is $26.80 and its 200 day moving average price is $24.74.
Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, September 7th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Malibu Boats had a return on equity of 78.71% and a net margin of 10.06%. The business had revenue of $75.11 million for the quarter, compared to analysts’ expectations of $73.35 million. During the same quarter in the prior year, the business earned $0.38 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Analysts expect that Malibu Boats will post $1.89 EPS for the current year.
In related news, Director Peter E. Murphy bought 3,000 shares of Malibu Boats stock in a transaction dated Thursday, August 10th. The shares were bought at an average cost of $25.50 per share, with a total value of $76,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. grew its holdings in shares of Malibu Boats by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 22,747 shares of the company’s stock worth $588,000 after purchasing an additional 58 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Malibu Boats by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 19,767 shares of the company’s stock worth $511,000 after purchasing an additional 160 shares in the last quarter. American International Group Inc. grew its holdings in shares of Malibu Boats by 7.1% during the 1st quarter. American International Group Inc. now owns 11,115 shares of the company’s stock worth $250,000 after purchasing an additional 733 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Malibu Boats by 14.9% during the 2nd quarter. Voya Investment Management LLC now owns 10,529 shares of the company’s stock worth $272,000 after purchasing an additional 1,366 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Malibu Boats by 17.0% during the 1st quarter. Mackenzie Financial Corp now owns 17,000 shares of the company’s stock worth $382,000 after purchasing an additional 2,465 shares in the last quarter. 90.19% of the stock is currently owned by institutional investors.
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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