Malibu Boats (MBUU) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Malibu Boats (NASDAQ:MBUU) from a sell rating to a hold rating in a report published on Thursday.

A number of other research analysts have also weighed in on MBUU. Zacks Investment Research upgraded Malibu Boats from a hold rating to a strong-buy rating and set a $60.00 price objective for the company in a research report on Thursday, September 13th. B. Riley upgraded Malibu Boats from a neutral rating to a buy rating and raised their price objective for the company from $46.50 to $60.00 in a research report on Monday, September 17th. ValuEngine downgraded shares of Malibu Boats from a buy rating to a hold rating in a report on Tuesday, October 9th. Finally, Wells Fargo & Co lowered their price target on shares of Malibu Boats from $58.00 to $45.00 and set an outperform rating for the company in a report on Tuesday, December 18th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $55.71.

Shares of Malibu Boats stock traded up $0.66 during trading on Thursday, reaching $38.88. 130,900 shares of the stock traded hands, compared to its average volume of 198,250. The firm has a market cap of $795.51 million, a price-to-earnings ratio of 15.44, a PEG ratio of 0.77 and a beta of 1.76. The company has a quick ratio of 1.43, a current ratio of 2.19 and a debt-to-equity ratio of 0.71. Malibu Boats has a 52-week low of $28.80 and a 52-week high of $59.57.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.13. The firm had revenue of $123.50 million during the quarter, compared to analyst estimates of $113.67 million. Malibu Boats had a return on equity of 44.97% and a net margin of 6.39%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 earnings per share. On average, equities analysts expect that Malibu Boats will post 3.32 EPS for the current fiscal year.

In other Malibu Boats news, CFO Wayne R. Wilson sold 10,466 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $48.36, for a total value of $506,135.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ritchie L. Anderson sold 12,036 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $45.85, for a total transaction of $551,850.60. The disclosure for this sale can be found here. 3.35% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MBUU. Marshall Wace LLP bought a new stake in Malibu Boats in the third quarter worth about $23,934,000. Millennium Management LLC increased its position in shares of Malibu Boats by 1,966.0% during the second quarter. Millennium Management LLC now owns 285,726 shares of the company’s stock worth $11,983,000 after acquiring an additional 271,896 shares during the period. Loomis Sayles & Co. L P purchased a new position in shares of Malibu Boats during the third quarter worth approximately $11,783,000. Renaissance Technologies LLC increased its position in shares of Malibu Boats by 24.1% during the third quarter. Renaissance Technologies LLC now owns 806,200 shares of the company’s stock worth $44,115,000 after acquiring an additional 156,700 shares during the period. Finally, Macquarie Group Ltd. increased its position in shares of Malibu Boats by 10.0% during the second quarter. Macquarie Group Ltd. now owns 1,280,397 shares of the company’s stock worth $53,700,000 after acquiring an additional 115,989 shares during the period. 95.21% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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