Malibu Boats Inc. (NASDAQ:MBUU) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $20.67.
A number of research analysts recently issued reports on the company. Zacks Investment Research cut Malibu Boats from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. B. Riley reaffirmed a “buy” rating and issued a $19.00 price target on shares of Malibu Boats in a report on Monday, September 12th. TheStreet raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Wednesday, September 7th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Malibu Boats in a report on Thursday, September 8th. Finally, SunTrust Banks Inc. lifted their price target on Malibu Boats from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, September 8th.
Malibu Boats (NASDAQ:MBUU) opened at 14.22 on Thursday. Malibu Boats has a one year low of $11.38 and a one year high of $18.08. The firm has a 50 day moving average of $14.51 and a 200 day moving average of $14.20. The firm has a market capitalization of $251.64 million, a PE ratio of 14.22 and a beta of 0.72.
Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Wednesday, September 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. Malibu Boats had a return on equity of 722.55% and a net margin of 7.13%. The business earned $66.70 million during the quarter, compared to analysts’ expectations of $64.09 million. During the same period in the previous year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts forecast that Malibu Boats will post $1.46 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Malibu Boats by 14.7% in the first quarter. Geode Capital Management LLC now owns 117,900 shares of the company’s stock valued at $1,933,000 after buying an additional 15,098 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Malibu Boats by 8.3% in the first quarter. Wellington Management Group LLP now owns 1,157,517 shares of the company’s stock valued at $18,983,000 after buying an additional 88,800 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Malibu Boats by 23.1% in the first quarter. Renaissance Technologies LLC now owns 59,700 shares of the company’s stock valued at $979,000 after buying an additional 11,200 shares in the last quarter. Barclays PLC purchased a new stake in shares of Malibu Boats during the first quarter valued at $342,000. Finally, Royal Bank of Canada boosted its stake in shares of Malibu Boats by 5.7% in the first quarter. Royal Bank of Canada now owns 1,442,083 shares of the company’s stock valued at $23,650,000 after buying an additional 77,797 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.
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.