Malibu Boats (NASDAQ:MBUU) was upgraded by equities research analysts at B. Riley from a “neutral” rating to a “buy” rating in a research report issued on Tuesday.

Several other research firms also recently issued reports on MBUU. ValuEngine downgraded Malibu Boats from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. BidaskClub downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research report on Wednesday, December 12th. Zacks Investment Research downgraded Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 8th. Finally, Wells Fargo & Co lowered their price objective on Malibu Boats from $58.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 18th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $54.00.

NASDAQ:MBUU opened at $37.04 on Tuesday. The firm has a market cap of $810.30 million, a price-to-earnings ratio of 14.70, a P/E/G ratio of 0.78 and a beta of 1.76. Malibu Boats has a 1 year low of $29.85 and a 1 year high of $59.57. The company has a current ratio of 2.19, a quick ratio of 1.43 and a debt-to-equity ratio of 0.71.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Tuesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.13. The firm had revenue of $123.50 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 earnings per share. On average, analysts predict that Malibu Boats will post 3.32 earnings per share for the current fiscal year.

In related news, COO Ritchie L. Anderson sold 12,036 shares of the stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $45.85, for a total value of $551,850.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Wayne R. Wilson sold 10,466 shares of the stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $48.36, for a total value of $506,135.76. The disclosure for this sale can be found here. Company insiders own 3.35% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MBUU. Marshall Wace LLP bought a new position in Malibu Boats in the third quarter valued at $23,934,000. Millennium Management LLC increased its stake in Malibu Boats by 1,966.0% in the second quarter. Millennium Management LLC now owns 285,726 shares of the company’s stock valued at $11,983,000 after acquiring an additional 271,896 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in Malibu Boats in the third quarter valued at $11,783,000. Renaissance Technologies LLC increased its stake in Malibu Boats by 24.1% in the third quarter. Renaissance Technologies LLC now owns 806,200 shares of the company’s stock valued at $44,115,000 after acquiring an additional 156,700 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Malibu Boats by 62.3% in the third quarter. Allianz Asset Management GmbH now owns 158,966 shares of the company’s stock valued at $8,699,000 after acquiring an additional 61,041 shares during the last quarter. 95.29% of the stock is currently 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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