SunTrust Banks, Inc. Reaffirms Buy Rating for Malibu Boats, Inc. (MBUU)
Malibu Boats, Inc. (NASDAQ:MBUU)‘s stock had its “buy” rating reissued by equities research analysts at SunTrust Banks, Inc. in a report released on Friday. They currently have a $32.00 price target on the stock, up from their prior price target of $30.00. SunTrust Banks, Inc.’s target price would suggest a potential upside of 22.75% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, June 21st. ValuEngine upgraded Malibu Boats from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. B. Riley reiterated a “buy” rating and issued a $26.00 price target on shares of Malibu Boats in a report on Saturday, May 13th. BidaskClub downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $29.00 price target on shares of Malibu Boats in a report on Wednesday, July 5th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $28.42.
Malibu Boats (NASDAQ:MBUU) traded down 1.88% during midday trading on Friday, reaching $26.07. The company’s stock had a trading volume of 331,487 shares. The firm’s 50-day moving average price is $27.03 and its 200-day moving average price is $24.34. Malibu Boats has a 52 week low of $13.96 and a 52 week high of $29.50. The stock has a market capitalization of $467.44 million, a PE ratio of 20.86 and a beta of 0.99.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, September 7th. The company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The company had revenue of $75.11 million during the quarter, compared to the consensus estimate of $73.35 million. Malibu Boats had a return on equity of 98.64% and a net margin of 8.15%. Malibu Boats’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. On average, analysts anticipate that Malibu Boats will post $1.86 earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. acquired a new stake in shares of Malibu Boats during the 1st quarter worth $3,688,000. Highbridge Capital Management LLC acquired a new stake in shares of Malibu Boats during the 1st quarter worth $215,000. Bank of America Corp DE increased its holdings in shares of Malibu Boats by 48.2% during the 1st quarter. Bank of America Corp DE now owns 72,202 shares of the company’s stock worth $1,621,000 after buying an additional 23,474 shares during the last quarter. EAM Investors LLC acquired a new stake in shares of Malibu Boats during the 1st quarter worth $856,000. Finally, First Quadrant L P CA increased its holdings in shares of Malibu Boats by 60.5% during the 2nd quarter. First Quadrant L P CA now owns 28,242 shares of the company’s stock worth $731,000 after buying an additional 10,642 shares during the last quarter.
Malibu Boats Company Profile
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.
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