Malibu Boats (NASDAQ:MBUU) had its price target boosted by BMO Capital Markets to $40.00 in a research report issued on Tuesday, The Fly reports. The firm currently has a “top pick” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 19.51% from the company’s current price.
Several other equities analysts also recently issued reports on the company. KeyCorp reiterated a “buy” rating and issued a $31.00 price objective on shares of Malibu Boats in a research report on Friday, October 20th. BidaskClub downgraded Malibu Boats from a “buy” rating to a “hold” rating in a research report on Thursday, December 14th. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a research report on Saturday, November 11th. SunTrust Banks reiterated a “buy” rating and issued a $34.00 price objective on shares of Malibu Boats in a research report on Friday, November 10th. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $36.00 price objective (up previously from $30.00) on shares of Malibu Boats in a research report on Wednesday, November 8th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $34.53.
Malibu Boats (MBUU) opened at $33.47 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 0.71 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $685.02, a P/E ratio of 34.15, a P/E/G ratio of 1.14 and a beta of 1.07. Malibu Boats has a 52-week low of $20.21 and a 52-week high of $34.88.
In other news, VP Deborah S. Kent sold 1,497 shares of Malibu Boats stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $31.16, for a total value of $46,646.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jackie D. Jr. Springer sold 40,000 shares of Malibu Boats stock in a transaction on Monday, December 11th. The shares were sold at an average price of $31.20, for a total value of $1,248,000.00. The disclosure for this sale can be found here. Insiders sold a total of 91,497 shares of company stock valued at $2,853,897 over the last three months. Insiders own 3.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MBUU. Alliancebernstein L.P. acquired a new stake in shares of Malibu Boats in the 2nd quarter valued at $269,000. Northern Trust Corp increased its stake in shares of Malibu Boats by 3.0% in the 2nd quarter. Northern Trust Corp now owns 262,097 shares of the company’s stock valued at $6,781,000 after buying an additional 7,735 shares during the period. Vanguard Group Inc. increased its stake in shares of 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 period. Dimensional Fund Advisors LP increased its stake in shares of Malibu Boats by 28.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 483,670 shares of the company’s stock valued at $12,513,000 after buying an additional 107,413 shares during the period. Finally, Voya Investment Management LLC increased its stake in shares of Malibu Boats by 14.9% in the 2nd quarter. Voya Investment Management LLC now owns 10,529 shares of the company’s stock valued at $272,000 after buying an additional 1,366 shares during the period.
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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.
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