Malibu Boats, Inc. (MBUU) Stock Rating Reaffirmed by Wells Fargo & Company
Wells Fargo & Company reissued their outperform rating on shares of Malibu Boats, Inc. (NASDAQ:MBUU) in a research note released on Wednesday morning, The Fly reports. The brokerage currently has a $36.00 price objective on the stock, up from their prior price objective of $30.00.
MBUU has been the topic of several other reports. KeyCorp reaffirmed an overweight rating and issued a $31.00 target price on shares of Malibu Boats in a research report on Wednesday, August 30th. Aegis initiated coverage on Malibu Boats in a research report on Monday, October 2nd. They issued a buy rating and a $37.00 target price on the stock. Zacks Investment Research lowered Malibu Boats from a buy rating to a hold rating in a research report on Wednesday, August 30th. ValuEngine raised Malibu Boats from a buy rating to a strong-buy rating in a research report on Wednesday, September 6th. Finally, B. Riley lowered Malibu Boats from a buy rating to a neutral rating and dropped their target price for the stock from $26.00 to $25.25 in a research report on Monday, August 28th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $32.06.
Shares of Malibu Boats (NASDAQ:MBUU) traded down $0.05 during midday trading on Wednesday, reaching $27.80. The company’s stock had a trading volume of 404,200 shares, compared to its average volume of 207,404. Malibu Boats has a 1 year low of $16.66 and a 1 year high of $33.35. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.46 and a quick ratio of 1.18. The firm has a market capitalization of $566.40, a price-to-earnings ratio of 16.55, a PEG ratio of 0.97 and a beta of 1.02.
Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, September 7th. The company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. The firm had revenue of $75.11 million for the quarter, compared to analyst estimates of $73.35 million. During the same period last year, the company earned $0.38 earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. equities research analysts predict that Malibu Boats will post 1.91 earnings per share for the current year.
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Several large investors have recently added to or reduced their stakes in the company. Systematic Financial Management LP bought a new position in shares of Malibu Boats in the third quarter worth $638,000. EAM Investors LLC grew its stake in shares of Malibu Boats by 113.9% in the third quarter. EAM Investors LLC now owns 81,619 shares of the company’s stock worth $2,582,000 after purchasing an additional 43,468 shares in the last quarter. Hood River Capital Management LLC grew its stake in shares of Malibu Boats by 2.3% in the third quarter. Hood River Capital Management LLC now owns 418,103 shares of the company’s stock worth $13,229,000 after purchasing an additional 9,461 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Malibu Boats by 3.2% in the third quarter. Russell Investments Group Ltd. now owns 55,860 shares of the company’s stock worth $1,767,000 after purchasing an additional 1,735 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Malibu Boats by 36.2% in the third quarter. Bank of New York Mellon Corp now owns 162,357 shares of the company’s stock worth $5,137,000 after purchasing an additional 43,140 shares in the last quarter. 90.09% of the stock is owned by institutional investors.
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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