Malibu Boats Inc (NASDAQ:MBUU) – SunTrust Banks lifted their Q2 2019 earnings per share (EPS) estimates for shares of Malibu Boats in a note issued to investors on Tuesday, November 6th. SunTrust Banks analyst M. Swartz now anticipates that the company will post earnings of $0.73 per share for the quarter, up from their previous forecast of $0.68. SunTrust Banks currently has a “Buy” rating and a $60.00 target price on the stock. SunTrust Banks also issued estimates for Malibu Boats’ Q3 2019 earnings at $1.00 EPS, Q4 2019 earnings at $0.93 EPS and FY2019 earnings at $3.32 EPS.
Malibu Boats (NASDAQ:MBUU) last released its earnings results on Tuesday, November 6th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.13. Malibu Boats had a net margin of 6.39% and a return on equity of 44.97%. The company had revenue of $123.50 million for the quarter, compared to analyst estimates of $113.67 million. During the same quarter last year, the firm earned $0.31 EPS. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year.
MBUU stock opened at $47.21 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 2.19. Malibu Boats has a 52 week low of $27.56 and a 52 week high of $59.57. The firm has a market cap of $1.02 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.03 and a beta of 1.45.
In related news, CFO Wayne R. Wilson sold 14,088 shares of Malibu Boats stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $52.34, for a total transaction of $737,365.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Phillip S. Estes sold 80,000 shares of Malibu Boats stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $52.87, for a total transaction of $4,229,600.00. Following the transaction, the director now directly owns 28,298 shares of the company’s stock, valued at $1,496,115.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,823 shares of company stock valued at $11,390,169. Corporate insiders own 3.35% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of MBUU. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Malibu Boats during the 3rd quarter valued at about $197,000. Cornerstone Wealth Management LLC purchased a new position in Malibu Boats during the 2nd quarter valued at about $200,000. ClariVest Asset Management LLC purchased a new position in Malibu Boats during the 3rd quarter valued at about $215,000. Affinity Investment Advisors LLC purchased a new position in Malibu Boats during the 2nd quarter valued at about $229,000. Finally, Brown Advisory Inc. purchased a new position in Malibu Boats during the 2nd quarter valued at about $235,000. 97.30% of the stock is owned by institutional investors.
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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