Brokerages Set Malibu Boats Inc (MBUU) Target Price at $54.80

Malibu Boats Inc (NASDAQ:MBUU) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $54.80.

MBUU has been the subject of a number of recent research reports. ValuEngine upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research cut shares of Malibu Boats from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. BidaskClub upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Finally, B. Riley upgraded shares of Malibu Boats from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 22nd.

NASDAQ:MBUU traded down $0.04 during trading hours on Thursday, reaching $40.74. 85,226 shares of the company’s stock were exchanged, compared to its average volume of 143,881. The stock has a market cap of $848.90 million, a P/E ratio of 13.18, a P/E/G ratio of 0.80 and a beta of 1.81. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.54 and a quick ratio of 0.61. Malibu Boats has a 1-year low of $32.09 and a 1-year high of $59.57.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Wednesday, February 6th. The company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.13. The firm had revenue of $165.80 million during the quarter, compared to analysts’ expectations of $149.82 million. Malibu Boats had a net margin of 9.44% and a return on equity of 45.92%. Malibu Boats’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. Sell-side analysts expect that Malibu Boats will post 3.41 EPS for the current fiscal year.

In other news, VP Deborah S. Kent sold 1,200 shares of the firm’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $45.06, for a total value of $54,072.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.35% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. AlphaOne Investment Services LLC increased its holdings in shares of Malibu Boats by 65.3% in the 4th quarter. AlphaOne Investment Services LLC now owns 866 shares of the company’s stock valued at $30,000 after purchasing an additional 342 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Malibu Boats by 5,954.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,453 shares of the company’s stock valued at $51,000 after purchasing an additional 1,429 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Malibu Boats in the 4th quarter valued at about $104,000. United Services Automobile Association purchased a new position in shares of Malibu Boats in the 3rd quarter valued at about $205,000. Finally, Jefferies Group LLC purchased a new position in shares of Malibu Boats in the 3rd quarter valued at about $221,000. Institutional investors own 99.09% of the company’s stock.

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.

Further Reading: Cost of Capital Explained

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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