Malibu Boats (NASDAQ:MBUU) had its price objective lifted by Raymond James from $48.00 to $61.00 in a research report report published on Friday morning. Raymond James currently has a strong-buy rating on the stock.

MBUU has been the topic of several other reports. ValuEngine lowered Malibu Boats from a buy rating to a hold rating in a research report on Thursday, July 19th. BidaskClub raised Malibu Boats from a hold rating to a buy rating in a research report on Saturday, August 25th. Wells Fargo & Co raised Malibu Boats from a market perform rating to an outperform rating and increased their target price for the stock from $44.00 to $51.00 in a research report on Thursday, August 23rd. Zacks Investment Research lowered Malibu Boats from a buy rating to a hold rating in a research report on Wednesday, July 25th. Finally, BMO Capital Markets increased their target price on Malibu Boats from $48.00 to $62.00 and gave the stock an outperform rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $51.06.

Shares of MBUU traded down $0.03 during trading hours on Friday, hitting $52.39. The stock had a trading volume of 362,902 shares, compared to its average volume of 201,090. The company has a current ratio of 1.87, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $1.08 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 1.27 and a beta of 1.13. Malibu Boats has a 12-month low of $25.98 and a 12-month high of $59.57.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, September 6th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.17. The business had revenue of $138.66 million for the quarter, compared to analyst estimates of $122.65 million. Malibu Boats had a return on equity of 45.69% and a net margin of 5.56%. The business’s quarterly revenue was up 84.6% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. sell-side analysts predict that Malibu Boats will post 2.75 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Mount Yale Investment Advisors LLC purchased a new position in Malibu Boats in the first quarter valued at about $130,000. Affinity Investment Advisors LLC purchased a new position in Malibu Boats in the second quarter valued at about $229,000. Brown Advisory Inc. purchased a new position in Malibu Boats in the second quarter valued at about $235,000. Trexquant Investment LP purchased a new position in Malibu Boats in the first quarter valued at about $282,000. Finally, Cornerstone Wealth Management LLC purchased a new position in Malibu Boats in the second quarter valued at about $200,000. 98.06% of the stock is currently owned by institutional investors.

Malibu Boats Company Profile

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

See Also: Earnings Per Share

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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