Malibu Boats (NASDAQ:MBUU) Stock Rating Upgraded by BidaskClub

Malibu Boats (NASDAQ:MBUU) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, BidAskClub reports.

Several other brokerages have also issued reports on MBUU. B. Riley reiterated a “buy” rating and issued a $52.00 price target on shares of Malibu Boats in a research note on Friday, November 15th. ValuEngine upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Friday, January 10th. Berenberg Bank began coverage on shares of Malibu Boats in a research note on Wednesday, January 15th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Malibu Boats from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $47.57.

MBUU traded down $0.49 during trading on Wednesday, hitting $43.50. The company had a trading volume of 5,632 shares, compared to its average volume of 107,624. The company has a market capitalization of $851.35 million, a PE ratio of 12.95, a PEG ratio of 1.08 and a beta of 1.87. Malibu Boats has a one year low of $24.79 and a one year high of $47.95. The firm’s 50-day moving average price is $40.44 and its 200 day moving average price is $34.32. The company has a quick ratio of 0.72, a current ratio of 1.61 and a debt-to-equity ratio of 0.53.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.70 by $0.13. Malibu Boats had a net margin of 9.64% and a return on equity of 42.48%. The business had revenue of $172.10 million for the quarter, compared to analysts’ expectations of $149.98 million. During the same period in the previous year, the firm posted $0.67 EPS. The firm’s revenue was up 39.4% compared to the same quarter last year. Sell-side analysts forecast that Malibu Boats will post 3.84 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in shares of Malibu Boats during the 4th quarter worth about $436,000. Gradient Investments LLC increased its stake in shares of Malibu Boats by 19.0% during the 4th quarter. Gradient Investments LLC now owns 34,678 shares of the company’s stock worth $1,420,000 after purchasing an additional 5,544 shares during the last quarter. Dalton Greiner Hartman Maher & Co. acquired a new position in shares of Malibu Boats during the 4th quarter worth about $2,648,000. Millennium Management LLC increased its stake in shares of Malibu Boats by 12.3% during the 3rd quarter. Millennium Management LLC now owns 146,452 shares of the company’s stock worth $4,493,000 after purchasing an additional 15,993 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of Malibu Boats by 158.4% during the 3rd quarter. Squarepoint Ops LLC now owns 154,755 shares of the company’s stock worth $4,748,000 after purchasing an additional 94,855 shares during the last quarter. Institutional investors own 97.16% 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.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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