Malibu Boats (NASDAQ:MBUU) Price Target Increased to $56.00 by Analysts at B. Riley

Malibu Boats (NASDAQ:MBUU) had its price objective boosted by equities researchers at B. Riley from $53.00 to $56.00 in a research note issued on Monday, The Fly reports. B. Riley’s target price points to a potential upside of 9.65% from the stock’s previous close.

MBUU has been the subject of several other reports. ValuEngine cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, July 3rd. Wells Fargo & Co restated a “buy” rating on shares of Malibu Boats in a research report on Sunday, June 7th. Zacks Investment Research upgraded shares of Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $59.00 price target for the company in a research report on Friday, July 3rd. Raymond James upped their price target on shares of Malibu Boats from $53.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, June 16th. Finally, SunTrust Banks upped their price target on shares of Malibu Boats from $45.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.38.

Shares of Malibu Boats stock traded up $0.50 on Monday, reaching $51.07. 2,300 shares of the stock were exchanged, compared to its average volume of 189,162. The firm’s 50 day moving average is $50.48 and its 200-day moving average is $40.51. Malibu Boats has a one year low of $18.02 and a one year high of $56.93. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.83 and a current ratio of 2.83. The firm has a market cap of $1.04 billion, a PE ratio of 14.27 and a beta of 2.12.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.15. Malibu Boats had a net margin of 10.25% and a return on equity of 36.85%. The company had revenue of $182.31 million during the quarter, compared to the consensus estimate of $185.10 million. During the same quarter in the prior year, the firm posted $1.15 EPS. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. On average, equities research analysts expect that Malibu Boats will post 2.88 EPS for the current fiscal year.

In other news, Director Peter E. Murphy sold 3,000 shares of Malibu Boats stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $50.67, for a total value of $152,010.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark W. Lanigan sold 25,000 shares of Malibu Boats stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $45.89, for a total transaction of $1,147,250.00. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in Malibu Boats by 5.5% in the 4th quarter. Victory Capital Management Inc. now owns 53,996 shares of the company’s stock worth $2,211,000 after acquiring an additional 2,839 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in Malibu Boats in the fourth quarter worth $50,000. Renaissance Technologies LLC lifted its position in Malibu Boats by 11.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,364,201 shares of the company’s stock worth $55,864,000 after buying an additional 142,900 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in Malibu Boats in the fourth quarter worth $344,000. Finally, RMB Capital Management LLC bought a new stake in Malibu Boats in the fourth quarter worth $287,000.

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.

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The Fly

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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