Malibu Boats (MBUU) Lifted to Buy at ValuEngine

Malibu Boats (NASDAQ:MBUU) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.

Other equities analysts have also issued research reports about the stock. KeyCorp reiterated a “buy” rating and set a $31.00 price objective on shares of Malibu Boats in a report on Friday, October 20th. BMO Capital Markets reiterated a “buy” rating and set a $32.00 price objective on shares of Malibu Boats in a report on Friday, October 13th. BidaskClub upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating in a report on Friday, December 29th. SunTrust Banks reiterated a “buy” rating and set a $34.00 price objective on shares of Malibu Boats in a report on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Malibu Boats currently has a consensus rating of “Buy” and an average target price of $32.44.

Shares of Malibu Boats (NASDAQ:MBUU) traded down $1.04 during midday trading on Friday, hitting $31.47. 179,532 shares of the stock traded hands, compared to its average volume of 174,628. Malibu Boats has a 52-week low of $19.90 and a 52-week high of $34.88. The firm has a market capitalization of $641.17, a price-to-earnings ratio of 18.73, a P/E/G ratio of 1.07 and a beta of 1.07. The company has a quick ratio of 0.71, a current ratio of 1.46 and a debt-to-equity ratio of 0.94.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.09. Malibu Boats had a net margin of 9.42% and a return on equity of 54.78%. sell-side analysts forecast that Malibu Boats will post 1.96 earnings per share for the current fiscal year.

In other Malibu Boats news, CFO Wayne R. Wilson sold 35,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $31.20, for a total value of $1,092,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jackie D. Jr. Springer sold 40,000 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $31.20, for a total transaction of $1,248,000.00. The disclosure for this sale can be found here. Insiders sold a total of 131,497 shares of company stock worth $3,964,297 in the last 90 days. 3.50% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Alliancebernstein L.P. purchased a new stake in Malibu Boats in the 2nd quarter valued at about $269,000. GSA Capital Partners LLP increased its stake in Malibu Boats by 5.1% in the 3rd quarter. GSA Capital Partners LLP now owns 94,678 shares of the company’s stock valued at $2,996,000 after buying an additional 4,574 shares during the last quarter. Vanguard Group Inc. increased its stake in Malibu Boats by 10.7% in the 2nd quarter. Vanguard Group Inc. now owns 893,667 shares of the company’s stock valued at $23,120,000 after buying an additional 86,128 shares during the last quarter. State Street Corp increased its stake in Malibu Boats by 2.6% in the 2nd quarter. State Street Corp now owns 402,640 shares of the company’s stock valued at $10,412,000 after buying an additional 10,308 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Malibu Boats by 124.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 72,898 shares of the company’s stock valued at $2,307,000 after buying an additional 40,437 shares during the last quarter.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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