Malibu Boats, Inc. (NASDAQ:MBUU) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday. The firm presently has a $30.00 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 15.07% from the stock’s current price.

According to Zacks, “Malibu Boats, Inc. operates as a designer, manufacturer and marketer of sport boats primarily in the United States. The Company sells its boats under two brands: Malibu and Axis Wake Research. Its sport boats used for water sports including water skiing, wakeboarding and wake surfing as well as for general recreational boating use. Malibu Boats, Inc. is based in Loudon, United States. “

Several other research analysts also recently weighed in on the company. ValuEngine upgraded Malibu Boats from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. B. Riley downgraded Malibu Boats from a “buy” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $25.25 in a research note on Monday, August 28th. KeyCorp reiterated an “overweight” rating and set a $31.00 price target on shares of Malibu Boats in a research note on Wednesday, August 30th. BMO Capital Markets reiterated a “hold” rating and set a $29.00 price target on shares of Malibu Boats in a research note on Wednesday, July 5th. Finally, BidaskClub downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Malibu Boats presently has a consensus rating of “Buy” and an average target price of $28.42.

Malibu Boats (NASDAQ:MBUU) traded down 1.88% during midday trading on Thursday, hitting $26.07. The stock had a trading volume of 331,487 shares. The company has a 50-day moving average price of $26.97 and a 200-day moving average price of $24.35. Malibu Boats has a 52 week low of $13.96 and a 52 week high of $29.50. The stock has a market cap of $528.88 million, a P/E ratio of 16.50 and a beta of 0.99.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, September 7th. The company reported $0.43 earnings per share for the quarter, topping the 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 91.48% and a net margin of 10.06%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 EPS. Equities analysts expect that Malibu Boats will post $1.86 EPS for the current year.

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A number of institutional investors and hedge funds have recently modified their holdings of MBUU. Teachers Advisors LLC lifted its holdings in Malibu Boats by 20.0% during the 4th quarter. Teachers Advisors LLC now owns 33,651 shares of the company’s stock worth $642,000 after purchasing an additional 5,606 shares in the last quarter. First Quadrant L P CA purchased a new stake in Malibu Boats during the 1st quarter worth about $395,000. Wells Fargo & Company MN lifted its holdings in Malibu Boats by 7.3% during the 1st quarter. Wells Fargo & Company MN now owns 158,500 shares of the company’s stock worth $3,558,000 after purchasing an additional 10,736 shares in the last quarter. LSV Asset Management purchased a new stake in Malibu Boats during the 1st quarter worth about $237,000. Finally, Chicago Equity Partners LLC lifted its holdings in Malibu Boats by 111.6% during the 1st quarter. Chicago Equity Partners LLC now owns 47,155 shares of the company’s stock worth $1,059,000 after purchasing an additional 24,865 shares in the last quarter.

About Malibu Boats

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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