BidaskClub lowered shares of Malibu Boats (NASDAQ:MBUU) from a strong-buy rating to a buy rating in a research note published on Saturday, BidAskClub reports.

Several other equities research analysts have also recently commented on MBUU. B. Riley boosted their target price on Malibu Boats from $42.00 to $53.00 and gave the company a neutral rating in a research note on Monday, June 8th. ValuEngine upgraded Malibu Boats from a sell rating to a hold rating in a research note on Thursday, June 4th. TheStreet upgraded Malibu Boats from a c+ rating to a b- rating in a research note on Wednesday, May 20th. Zacks Investment Research upgraded Malibu Boats from a hold rating to a buy rating and set a $55.00 target price on the stock in a research note on Tuesday, June 16th. Finally, Raymond James boosted their price target on Malibu Boats from $53.00 to $56.00 and gave the stock an outperform rating in a research report on Tuesday, June 16th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $50.25.

NASDAQ:MBUU opened at $50.40 on Friday. Malibu Boats has a fifty-two week low of $18.02 and a fifty-two week high of $56.93. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.83 and a quick ratio of 1.83. The stock has a market capitalization of $1.03 billion, a PE ratio of 14.08 and a beta of 2.11. The business’s 50-day simple moving average is $48.44 and its 200-day simple moving average is $39.91.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, May 7th. The company reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.15. The firm had revenue of $182.31 million for the quarter, compared to analysts’ expectations of $185.10 million. Malibu Boats had a return on equity of 36.85% and a net margin of 10.25%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 EPS. On average, research analysts expect that Malibu Boats will post 2.88 earnings per share for the current year.

In related news, Director Mark W. Lanigan sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $45.89, for a total transaction of $1,147,250.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter E. Murphy sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $50.67, for a total value of $152,010.00. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors acquired a new position in shares of Malibu Boats during the 4th quarter worth approximately $241,000. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Malibu Boats during the 4th quarter worth approximately $3,591,000. Marshall Wace North America L.P. increased its holdings in shares of Malibu Boats by 258.1% during the 4th quarter. Marshall Wace North America L.P. now owns 167,010 shares of the company’s stock worth $6,840,000 after acquiring an additional 120,370 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Malibu Boats by 15.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 126,489 shares of the company’s stock worth $5,179,000 after acquiring an additional 16,529 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Malibu Boats in the 1st quarter valued at $1,521,000.

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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