Malibu Boats (MBUU) Earns Buy Rating from SunTrust Banks

Malibu Boats (NASDAQ:MBUU)‘s stock had its “buy” rating reissued by equities researchers at SunTrust Banks in a research note issued to investors on Friday. They presently have a $37.00 price objective on the stock. SunTrust Banks’ price objective would indicate a potential upside of 10.78% from the company’s previous close.

Several other equities research analysts have also issued reports on MBUU. Zacks Investment Research lowered Malibu Boats from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded Malibu Boats from a “hold” rating to a “buy” rating in a report on Friday, January 26th. KeyCorp reiterated a “buy” rating and set a $38.00 price target on shares of Malibu Boats in a report on Friday. ValuEngine upgraded Malibu Boats from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, B. Riley reiterated a “neutral” rating and set a $29.50 price target (up from $25.50) on shares of Malibu Boats in a report on Monday, November 6th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $33.44.

Shares of Malibu Boats (MBUU) opened at $33.40 on Friday. The stock has a market capitalization of $757.62, a PE ratio of 34.43, a PEG ratio of 1.02 and a beta of 1.07. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.46. Malibu Boats has a 1-year low of $20.21 and a 1-year high of $34.88.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Friday, February 9th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.06. The business had revenue of $114.37 million during the quarter, compared to analyst estimates of $108.84 million. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. The firm’s revenue was up 69.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. sell-side analysts anticipate that Malibu Boats will post 1.96 earnings per share for the current year.

In related news, 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 value of $1,248,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Wayne R. Wilson sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $31.20, for a total value of $1,092,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,497 shares of company stock valued at $2,853,897. Corporate insiders own 3.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of MBUU. Tower Research Capital LLC TRC lifted its holdings in Malibu Boats by 126.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,445 shares of the company’s stock worth $133,000 after purchasing an additional 2,485 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in Malibu Boats in the 2nd quarter worth approximately $200,000. Alliancebernstein L.P. acquired a new stake in Malibu Boats in the 2nd quarter worth approximately $269,000. Voya Investment Management LLC lifted its holdings in Malibu Boats by 14.9% in the 2nd quarter. Voya Investment Management LLC now owns 10,529 shares of the company’s stock worth $272,000 after purchasing an additional 1,366 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Malibu Boats in the 3rd quarter worth approximately $288,000.

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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.

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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