Malibu Boats (NASDAQ:MBUU) Lifted to Buy at Zacks Investment Research

Malibu Boats (NASDAQ:MBUU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, January 16th. The brokerage currently has a $33.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 7.67% from the company’s previous close.

According to Zacks, “Malibu Boats, Inc. operates as a designer, manufacturer and marketer of sport boats primarily in the United States. The Company sells its boats under two brands: Malibu and Axis Wake Research. Its sport boats used for water sports including water skiing, wakeboarding and wake surfing as well as for general recreational boating use. Malibu Boats, Inc. is based in Loudon, United States. “

A number of other research analysts have also commented on MBUU. Aegis began coverage on Malibu Boats in a report on Monday, October 2nd. They set a “buy” rating and a $37.00 price objective on the stock. ValuEngine downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. BMO Capital Markets restated a “buy” rating and set a $32.00 target price on shares of Malibu Boats in a research note on Friday, October 13th. KeyCorp restated a “buy” rating and set a $31.00 target price on shares of Malibu Boats in a research note on Friday, October 20th. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $36.00 price objective (up previously from $30.00) on shares of Malibu Boats in a research report on Wednesday, November 8th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $32.44.

Shares of Malibu Boats (NASDAQ MBUU) opened at $30.65 on Tuesday. The stock has a market capitalization of $623.24, a PE ratio of 18.24, a P/E/G ratio of 1.04 and a beta of 1.00. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.46 and a quick ratio of 0.71. Malibu Boats has a one year low of $17.17 and a one year high of $33.35.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Tuesday, November 7th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. analysts predict that Malibu Boats will post 1.96 earnings per share for the current year.

In other Malibu Boats news, VP Deborah S. Kent sold 1,497 shares of Malibu Boats stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $31.16, for a total transaction of $46,646.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jackie D. Jr. Springer sold 40,000 shares of Malibu Boats stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $31.20, for a total value of $1,248,000.00. The disclosure for this sale can be found here. Insiders sold a total of 131,497 shares of company stock valued at $3,964,297 over the last three months. Insiders own 3.50% of the company’s stock.

Several institutional investors have recently modified their holdings of MBUU. Rhumbline Advisers lifted its holdings in shares of Malibu Boats by 0.8% in the second quarter. Rhumbline Advisers now owns 19,767 shares of the company’s stock valued at $511,000 after purchasing an additional 160 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Malibu Boats in the second quarter valued at about $116,000. Bank of New York Mellon Corp lifted its holdings in shares of Malibu Boats by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 119,217 shares of the company’s stock valued at $3,085,000 after purchasing an additional 6,497 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Malibu Boats by 3.1% in the second quarter. Prudential Financial Inc. now owns 169,440 shares of the company’s stock valued at $4,383,000 after acquiring an additional 5,140 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Malibu Boats in the second quarter valued at about $211,000.

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Malibu Boats Company Profile

Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.

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