Malibu Boats, Inc. (NASDAQ:MBUU) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday. The firm currently has a $32.00 price target on the stock, up from their prior price target of $29.00. BMO Capital Markets’ target price would suggest a potential upside of 18.65% from the stock’s previous close.
Other research analysts have also issued research reports about the company. B. Riley lowered Malibu Boats to a “neutral” rating and set a $25.25 target price for the company. in a research report on Saturday, September 2nd. BidaskClub lowered Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Zacks Investment Research lowered Malibu Boats from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. SunTrust Banks, Inc. restated a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Malibu Boats in a research report on Friday, September 8th. Finally, ValuEngine upgraded Malibu Boats from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $28.92.
Shares of Malibu Boats (MBUU) opened at 26.97 on Monday. The stock has a market cap of $483.57 million, a PE ratio of 21.58 and a beta of 0.99. The firm has a 50-day moving average price of $26.94 and a 200 day moving average price of $24.45. Malibu Boats has a 12-month low of $13.96 and a 12-month high of $29.50.
Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, September 7th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $73.35 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts expect that Malibu Boats will post $1.87 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. purchased a new stake in Malibu Boats during the first quarter worth $3,688,000. Highbridge Capital Management LLC purchased a new stake in Malibu Boats during the first quarter worth $215,000. Bank of America Corp DE lifted its holdings in Malibu Boats by 48.2% during the first quarter. Bank of America Corp DE now owns 72,202 shares of the company’s stock worth $1,621,000 after buying an additional 23,474 shares during the period. EAM Investors LLC purchased a new stake in Malibu Boats during the first quarter worth $856,000. Finally, First Quadrant L P CA lifted its holdings in Malibu Boats by 60.5% during the second quarter. First Quadrant L P CA now owns 28,242 shares of the company’s stock worth $731,000 after buying an additional 10,642 shares during the period.
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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