SunTrust Banks, Inc. Reaffirms “Buy” Rating for Malibu Boats, Inc. (MBUU)
SunTrust Banks, Inc. reiterated their buy rating on shares of Malibu Boats, Inc. (NASDAQ:MBUU) in a research note released on Friday morning. They currently have a $34.00 price target on the stock. SunTrust Banks also issued estimates for Malibu Boats’ Q4 2018 earnings at $0.49 EPS, FY2018 earnings at $1.90 EPS and FY2019 earnings at $2.10 EPS.
MBUU has been the topic of a number of other reports. KeyCorp restated an overweight rating and set a $31.00 price objective on shares of Malibu Boats in a research note on Wednesday, August 30th. Aegis initiated coverage on shares of Malibu Boats in a research note on Monday, October 2nd. They set a buy rating and a $37.00 price objective on the stock. Zacks Investment Research upgraded shares of Malibu Boats from a hold rating to a strong-buy rating and set a $32.00 price objective on the stock in a research note on Saturday. B. Riley restated a neutral rating and set a $29.50 price objective (up from $25.50) on shares of Malibu Boats in a research note on Monday, November 6th. Finally, Wells Fargo & Company restated an outperform rating and set a $36.00 price objective (up from $30.00) on shares of Malibu Boats in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Malibu Boats has a consensus rating of Buy and an average price target of $32.31.
Malibu Boats (NASDAQ MBUU) opened at $28.06 on Friday. Malibu Boats has a 1-year low of $16.66 and a 1-year high of $33.35. The stock has a market cap of $566.40, a price-to-earnings ratio of 16.55, a PEG ratio of 0.97 and a beta of 1.02. The company has a current ratio of 1.46, a quick ratio of 0.71 and a debt-to-equity ratio of 0.94.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, September 7th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Malibu Boats had a net margin of 6.19% and a return on equity of 29.43%. The business had revenue of $75.11 million for the quarter, compared to analysts’ expectations of $73.35 million. During the same period in the previous year, the business earned $0.38 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. sell-side analysts expect that Malibu Boats will post 1.91 EPS for the current year.
In other Malibu Boats news, CEO Jackie D. Jr. Springer sold 40,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $27.76, for a total value of $1,110,400.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.50% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of MBUU. Hood River Capital Management LLC bought a new stake in Malibu Boats in the second quarter worth about $10,572,000. Boston Advisors LLC bought a new stake in Malibu Boats in the second quarter worth about $5,361,000. American Century Companies Inc. raised its position in Malibu Boats by 42.5% in the third quarter. American Century Companies Inc. now owns 664,496 shares of the company’s stock worth $21,025,000 after acquiring an additional 198,283 shares in the last quarter. AJO LP bought a new stake in Malibu Boats in the second quarter worth about $5,025,000. Finally, Vanguard Group Inc. raised its position in Malibu Boats by 22.1% in the first quarter. Vanguard Group Inc. now owns 807,539 shares of the company’s stock worth $18,129,000 after acquiring an additional 146,263 shares in the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.
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.
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