Malibu Boats Inc (NASDAQ:MBUU) CFO Wayne R. Wilson sold 14,088 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $52.34, for a total transaction of $737,365.92. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Malibu Boats stock traded down $0.48 during trading on Friday, hitting $51.33. The company’s stock had a trading volume of 160,885 shares, compared to its average volume of 195,641. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.05 and a quick ratio of 1.37. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.15 and a beta of 1.11. Malibu Boats Inc has a 52 week low of $27.44 and a 52 week high of $59.57.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, September 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.17. The company had revenue of $138.66 million during the quarter, compared to analyst estimates of $122.65 million. Malibu Boats had a net margin of 5.56% and a return on equity of 43.60%. Malibu Boats’s quarterly revenue was up 84.6% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. On average, equities analysts anticipate that Malibu Boats Inc will post 3.18 EPS for the current year.
Several institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. grew its position in Malibu Boats by 25.3% during the 2nd quarter. Alps Advisors Inc. now owns 17,447 shares of the company’s stock valued at $519,000 after purchasing an additional 3,519 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in Malibu Boats during the 1st quarter valued at about $130,000. Northern Trust Corp grew its position in Malibu Boats by 1.6% during the 1st quarter. Northern Trust Corp now owns 280,710 shares of the company’s stock valued at $9,323,000 after purchasing an additional 4,353 shares during the last quarter. Affinity Investment Advisors LLC purchased a new stake in Malibu Boats during the 2nd quarter valued at about $229,000. Finally, Brown Advisory Inc. purchased a new stake in Malibu Boats during the 2nd quarter valued at about $235,000. Institutional investors own 97.82% of the company’s stock.
Several research analysts have commented on the stock. SunTrust Banks upped their price objective on shares of Malibu Boats to $60.00 and gave the stock a “buy” rating in a report on Friday, September 7th. B. Riley upped their price objective on shares of Malibu Boats from $41.00 to $46.50 and gave the stock a “neutral” rating in a report on Friday, September 7th. ValuEngine upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Zacks Investment Research upgraded shares of Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a report on Thursday, September 13th. Finally, Raymond James increased their price target on shares of Malibu Boats from $48.00 to $61.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 7th. Six investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $57.14.
Malibu Boats Company Profile
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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