Wells Fargo & Company Reiterates “Outperform” Rating for Malibu Boats, Inc. (MBUU)
Malibu Boats, Inc. (NASDAQ:MBUU)‘s stock had its “outperform” rating restated by research analysts at Wells Fargo & Company in a report issued on Wednesday. They presently have a $36.00 target price on the stock, up from their previous target price of $30.00. Wells Fargo & Company’s target price would indicate a potential upside of 29.50% from the stock’s previous close.
Several other research analysts also recently issued reports on MBUU. Zacks Investment Research downgraded shares of Malibu Boats from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub cut shares of Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. B. Riley cut shares of Malibu Boats to a “neutral” rating and set a $25.25 target price on the stock. in a research note on Monday, August 28th. KeyCorp reissued an “overweight” rating and issued a $31.00 target price on shares of Malibu Boats in a research note on Wednesday, August 30th. Finally, ValuEngine raised shares of Malibu Boats from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Malibu Boats has a consensus rating of “Buy” and a consensus price target of $31.31.
Malibu Boats (NASDAQ:MBUU) traded down $0.05 during trading hours on Wednesday, hitting $27.80. 404,091 shares of the stock traded hands, compared to its average volume of 186,133. Malibu Boats has a one year low of $16.66 and a one year high of $33.35. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.18 and a current ratio of 1.79. The company has a market cap of $594.92, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 1.07 and a beta of 1.02.
Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, September 7th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. Malibu Boats had a net margin of 9.42% and a return on equity of 78.94%. The company had revenue of $75.11 million for the quarter, compared to the consensus estimate of $73.35 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue was up 12.6% compared to the same quarter last year. research analysts forecast that Malibu Boats will post 1.82 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Systematic Financial Management LP acquired a new position in Malibu Boats in the third quarter valued at about $638,000. EAM Investors LLC boosted its position in Malibu Boats by 113.9% in the third quarter. EAM Investors LLC now owns 81,619 shares of the company’s stock valued at $2,582,000 after buying an additional 43,468 shares in the last quarter. Hood River Capital Management LLC boosted its position in Malibu Boats by 2.3% in the third quarter. Hood River Capital Management LLC now owns 418,103 shares of the company’s stock valued at $13,229,000 after buying an additional 9,461 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Malibu Boats by 3.2% in the third quarter. Russell Investments Group Ltd. now owns 55,860 shares of the company’s stock valued at $1,767,000 after buying an additional 1,735 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Malibu Boats by 36.2% in the third quarter. Bank of New York Mellon Corp now owns 162,357 shares of the company’s stock valued at $5,137,000 after buying an additional 43,140 shares in the last quarter. 90.09% of the stock is currently owned by institutional investors and hedge funds.
About Malibu Boats
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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