Shares of Malibu Boats Inc (NASDAQ:MBUU) have earned an average recommendation of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $47.17.
Several research analysts have weighed in on the company. BMO Capital Markets lowered their price target on Malibu Boats from $62.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. ValuEngine upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Zacks Investment Research raised Malibu Boats from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, November 13th. B. Riley restated a “buy” rating and issued a $52.00 price target on shares of Malibu Boats in a research note on Friday, November 15th. Finally, BidaskClub raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Friday, October 18th.
Several large investors have recently modified their holdings of the company. Nuveen Asset Management LLC raised its position in shares of Malibu Boats by 1,065.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 455,758 shares of the company’s stock valued at $17,707,000 after buying an additional 416,639 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Malibu Boats during the third quarter worth $5,115,000. Citadel Advisors LLC increased its holdings in shares of Malibu Boats by 2,231.9% during the second quarter. Citadel Advisors LLC now owns 170,111 shares of the company’s stock worth $6,609,000 after buying an additional 162,816 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Malibu Boats by 7.3% during the second quarter. BlackRock Inc. now owns 1,712,838 shares of the company’s stock worth $66,543,000 after buying an additional 116,219 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Malibu Boats by 158.4% in the 3rd quarter. Squarepoint Ops LLC now owns 154,755 shares of the company’s stock valued at $4,748,000 after acquiring an additional 94,855 shares during the last quarter. Institutional investors own 96.93% of the company’s stock.
Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, November 7th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.13. Malibu Boats had a return on equity of 42.48% and a net margin of 9.64%. The business had revenue of $172.10 million for the quarter, compared to analyst estimates of $149.98 million. During the same quarter last year, the firm earned $0.67 EPS. Malibu Boats’s revenue for the quarter was up 39.4% compared to the same quarter last year. On average, equities analysts forecast that Malibu Boats will post 3.84 EPS for the current fiscal year.
About Malibu Boats
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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