Malibu Boats Inc. (MBUU) Stock Price Up 5.2%
Malibu Boats Inc. (NASDAQ:MBUU)’s share price rose 5.2% during mid-day trading on Friday . The company traded as high as $13.23 and last traded at $13.17, with a volume of 89,680 shares traded. The stock had previously closed at $12.52.
MBUU has been the topic of a number of research analyst reports. B. Riley reissued a “buy” rating and set a $22.00 price objective on shares of Malibu Boats in a research report on Tuesday, May 10th. Wunderlich cut their price objective on shares of Malibu Boats from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, May 4th. Zacks Investment Research raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Finally, BMO Capital Markets cut shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $23.00.
The firm’s 50-day moving average is $13.23 and its 200 day moving average is $14.60. The firm has a market cap of $233.48 million and a price-to-earnings ratio of 11.43.
Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. The business earned $68.50 million during the quarter, compared to the consensus estimate of $70.06 million. During the same period in the prior year, the firm earned $0.34 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts expect that Malibu Boats Inc. will post $1.30 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in MBUU. Victory Capital Management Inc. boosted its position in Malibu Boats by 15.9% in the fourth quarter. Victory Capital Management Inc. now owns 64,821 shares of the company’s stock worth $1,061,000 after buying an additional 8,900 shares during the last quarter. Wells Fargo & Company MN boosted its position in Malibu Boats by 20.9% in the fourth quarter. Wells Fargo & Company MN now owns 669,294 shares of the company’s stock worth $10,956,000 after buying an additional 115,823 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Malibu Boats by 37.5% in the fourth quarter. American Century Companies Inc. now owns 724,380 shares of the company’s stock worth $11,858,000 after buying an additional 197,502 shares during the last quarter.
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s boats are used for water sports, including water skiing, wakeboarding and wake surfing, as well as general recreational boating. The Company sells its boats under two brands: Malibu and Axis. Its flagship Malibu brand boats are designed for consumers seeking a premium boating experience.
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