Malibu Boats (MBUU) Given “Overweight” Rating at KeyCorp

Malibu Boats (NASDAQ:MBUU)‘s stock had its “overweight” rating reissued by research analysts at KeyCorp in a research report issued to clients and investors on Friday, Marketbeat.com reports. They presently have a $38.00 target price on the stock, up from their previous target price of $33.00. KeyCorp’s price objective indicates a potential upside of 13.77% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $32.00 target price on shares of Malibu Boats in a research note on Friday, October 13th. ValuEngine raised shares of Malibu Boats from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub downgraded shares of Malibu Boats from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Zacks Investment Research downgraded shares of Malibu Boats from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, B. Riley reissued a “neutral” rating and issued a $29.50 price target (up from $25.50) on shares of Malibu Boats in a research note on Monday, November 6th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $33.78.

Shares of Malibu Boats (NASDAQ MBUU) traded up $3.40 during mid-day trading on Friday, reaching $33.40. 747,500 shares of the company’s stock were exchanged, compared to its average volume of 200,465. 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 has a one year low of $20.21 and a one year high of $34.88. The stock has a market capitalization of $685.02, a P/E ratio of 34.08, a PEG ratio of 1.14 and a beta of 1.07.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Friday, February 9th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. Malibu Boats had a net margin of 4.64% and a return on equity of 51.61%. The company had revenue of $114.37 million for the quarter, compared to the consensus estimate of $108.84 million. During the same period in the previous year, the firm earned $0.38 earnings per share. Malibu Boats’s quarterly revenue was up 69.0% compared to the same quarter last year. analysts anticipate that Malibu Boats will post 1.96 earnings per share for the current fiscal year.

In other Malibu Boats news, VP Deborah S. Kent sold 1,497 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $31.16, for a total transaction of $46,646.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jackie D. Jr. Springer sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was 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. Over the last ninety days, insiders have sold 91,497 shares of company stock worth $2,853,897. 3.50% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC grew its holdings in Malibu Boats by 14.9% during the 2nd quarter. Voya Investment Management LLC now owns 10,529 shares of the company’s stock worth $272,000 after acquiring an additional 1,366 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Malibu Boats by 13.7% in the 4th quarter. American International Group Inc. now owns 13,725 shares of the company’s stock valued at $408,000 after buying an additional 1,652 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Malibu Boats by 3.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 55,860 shares of the company’s stock valued at $1,767,000 after buying an additional 1,735 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Malibu Boats by 15.0% in the 4th quarter. First Trust Advisors LP now owns 18,160 shares of the company’s stock valued at $540,000 after buying an additional 2,371 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Malibu Boats by 126.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,445 shares of the company’s stock valued at $133,000 after buying an additional 2,485 shares in the last quarter.

COPYRIGHT VIOLATION WARNING: “Malibu Boats (MBUU) Given “Overweight” Rating at KeyCorp” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was stolen and republished in violation of United States & international copyright & trademark laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/02/10/malibu-boats-mbuu-earns-buy-rating-from-keycorp.html.

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.

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

Receive News & Ratings for Malibu Boats Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Malibu Boats and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply