Malibu Boats (MBUU) PT Raised to $40.00

Malibu Boats (NASDAQ:MBUU) had its price objective boosted by equities researchers at BMO Capital Markets from $34.00 to $40.00 in a research note issued on Tuesday. The firm presently has a “top pick” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 15.21% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. SunTrust Banks reaffirmed a “buy” rating and set a $34.00 price target on shares of Malibu Boats in a research report on Friday, November 10th. KeyCorp reaffirmed a “buy” rating and set a $33.00 price target on shares of Malibu Boats in a research report on Friday, November 10th. BidaskClub raised Malibu Boats from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Zacks Investment Research raised Malibu Boats from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Tuesday, January 16th. Finally, ValuEngine raised Malibu Boats from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $35.28.

Malibu Boats (NASDAQ MBUU) opened at $34.72 on Tuesday. Malibu Boats has a 1 year low of $20.21 and a 1 year high of $35.90. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.46. The company has a market capitalization of $707.39, a price-to-earnings ratio of 35.79, a PEG ratio of 1.14 and a beta of 1.07.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Malibu Boats had a return on equity of 51.61% and a net margin of 4.64%. The firm had revenue of $114.37 million for the quarter, compared to analysts’ expectations of $108.84 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 69.0% compared to the same quarter last year. sell-side analysts forecast that Malibu Boats will post 1.96 earnings per share for the current fiscal year.

In related news, CEO Jackie D. Jr. Springer sold 40,000 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $31.20, for a total transaction of $1,248,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Deborah S. Kent sold 1,497 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $31.16, for a total value of $46,646.52. The disclosure for this sale can be found here. Insiders have sold a total of 91,497 shares of company stock worth $2,853,897 in the last three months. 3.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC lifted its holdings in 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. American International Group Inc. raised its holdings in shares of Malibu Boats by 13.7% in the 4th quarter. American International Group Inc. now owns 13,725 shares of the company’s stock valued at $408,000 after acquiring an additional 1,652 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Malibu Boats by 3.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 55,860 shares of the company’s stock valued at $1,767,000 after acquiring an additional 1,735 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Malibu Boats by 0.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 211,658 shares of the company’s stock valued at $6,292,000 after acquiring an additional 1,822 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Malibu Boats by 15.0% in the 4th quarter. First Trust Advisors LP now owns 18,160 shares of the company’s stock valued at $540,000 after acquiring an additional 2,371 shares in the last quarter.

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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.

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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