Several other equities research analysts also recently weighed in on the stock. B.Riley Securit upgraded shares of Malibu Boats from a “neutral” rating to a “buy” rating in a research note on Monday, September 28th. Wells Fargo & Company reissued a “buy” rating on shares of Malibu Boats in a report on Sunday, June 7th. KeyCorp upped their price target on Malibu Boats from $58.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, August 28th. ValuEngine lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Wednesday, September 2nd. Finally, B. Riley upgraded shares of Malibu Boats from a “neutral” rating to a “buy” rating and raised their target price for the stock from $56.00 to $75.00 in a research note on Friday, August 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $62.38.
MBUU opened at $53.62 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.77 and a debt-to-equity ratio of 0.32. Malibu Boats has a 52 week low of $18.02 and a 52 week high of $63.88. The business’s 50 day moving average is $52.69 and its two-hundred day moving average is $45.29. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 18.18 and a beta of 1.99.
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Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, August 27th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.28. The business had revenue of $118.70 million for the quarter, compared to analysts’ expectations of $100.41 million. Malibu Boats had a net margin of 9.43% and a return on equity of 28.59%. The company’s quarterly revenue was down 39.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS. Equities analysts expect that Malibu Boats will post 4.27 EPS for the current fiscal year.
In other Malibu Boats news, COO Ritchie L. Anderson sold 16,889 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $54.13, for a total transaction of $914,201.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in Malibu Boats by 15.4% in the second quarter. AQR Capital Management LLC now owns 45,515 shares of the company’s stock valued at $2,365,000 after purchasing an additional 6,086 shares during the last quarter. Jane Street Group LLC purchased a new position in Malibu Boats in the 2nd quarter worth approximately $206,000. Sei Investments Co. acquired a new stake in Malibu Boats in the second quarter valued at approximately $767,000. Man Group plc purchased a new stake in shares of Malibu Boats during the second quarter valued at approximately $1,585,000. Finally, Glenmede Trust Co. NA acquired a new position in shares of Malibu Boats during the second quarter worth $292,000. Institutional investors own 98.02% 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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