Malibu Boats (NASDAQ:MBUU) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Monday, February 4th.
MBUU has been the topic of a number of other research reports. Zacks Investment Research downgraded Malibu Boats from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. B. Riley upgraded Malibu Boats from a “neutral” rating to a “buy” rating in a report on Tuesday, January 22nd. ValuEngine cut Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, December 7th. Finally, Wells Fargo & Co decreased their price objective on Malibu Boats from $58.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday, December 18th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $54.86.
NASDAQ MBUU opened at $46.46 on Monday. The company has a market cap of $958.50 million, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 0.90 and a beta of 1.78. Malibu Boats has a one year low of $32.03 and a one year high of $59.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.61 and a current ratio of 1.54.
Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Wednesday, February 6th. The company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.13. Malibu Boats had a return on equity of 45.92% and a net margin of 9.44%. The business had revenue of $165.80 million for the quarter, compared to analyst estimates of $149.82 million. During the same period in the prior year, the company earned $0.53 EPS. Malibu Boats’s revenue for the quarter was up 44.9% on a year-over-year basis. Analysts forecast that Malibu Boats will post 3.41 earnings per share for the current fiscal year.
In other news, VP Deborah S. Kent sold 1,200 shares of Malibu Boats stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $45.06, for a total value of $54,072.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Wayne R. Wilson sold 10,466 shares of Malibu Boats stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $48.36, for a total transaction of $506,135.76. The disclosure for this sale can be found here. Company insiders own 3.35% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaOne Investment Services LLC increased its stake in Malibu Boats by 65.3% in the fourth quarter. AlphaOne Investment Services LLC now owns 866 shares of the company’s stock valued at $30,000 after acquiring an additional 342 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Malibu Boats by 5,954.2% in the fourth quarter. Meeder Asset Management Inc. now owns 1,453 shares of the company’s stock valued at $51,000 after acquiring an additional 1,429 shares during the last quarter. Nordea Investment Management AB bought a new position in Malibu Boats in the fourth quarter valued at approximately $104,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Malibu Boats in the third quarter valued at approximately $197,000. Finally, United Services Automobile Association bought a new position in Malibu Boats in the third quarter valued at approximately $205,000. Institutional investors own 94.85% of the company’s stock.
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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