Berenberg Bank Initiates Coverage on Malibu Boats (NASDAQ:MBUU)

Research analysts at Berenberg Bank initiated coverage on shares of Malibu Boats (NASDAQ:MBUU) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “buy” rating and a $50.00 price target on the stock. Berenberg Bank’s target price points to a potential upside of 24.78% from the stock’s current price.

MBUU has been the subject of several other research reports. B. Riley restated a “buy” rating and issued a $52.00 price target on shares of Malibu Boats in a research report 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. BidaskClub upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. 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. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Malibu Boats currently has an average rating of “Buy” and a consensus target price of $47.57.

Shares of NASDAQ:MBUU opened at $40.07 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.72 and a current ratio of 1.61. The company has a market cap of $819.41 million, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.02 and a beta of 1.87. Malibu Boats has a 52 week low of $24.79 and a 52 week high of $47.95. The firm has a 50 day simple moving average of $39.88 and a 200 day simple moving average of $34.18.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.13. The business had revenue of $172.10 million during the quarter, compared to the consensus estimate of $149.98 million. Malibu Boats had a net margin of 9.64% and a return on equity of 42.48%. The firm’s quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. On average, equities analysts predict that Malibu Boats will post 3.84 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Malibu Boats by 7.3% in the 2nd quarter. BlackRock Inc. now owns 1,712,838 shares of the company’s stock valued at $66,543,000 after buying an additional 116,219 shares during the period. Vanguard Group Inc. increased its stake in shares of Malibu Boats by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,066,089 shares of the company’s stock worth $41,418,000 after purchasing an additional 19,150 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Malibu Boats by 5.7% during the 2nd quarter. Royal Bank of Canada now owns 659,075 shares of the company’s stock worth $25,605,000 after purchasing an additional 35,643 shares during the last quarter. Neumeier Poma Investment Counsel LLC increased its stake in shares of Malibu Boats by 2.8% during the 2nd quarter. Neumeier Poma Investment Counsel LLC now owns 651,390 shares of the company’s stock worth $25,307,000 after purchasing an additional 17,600 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Malibu Boats by 1,065.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 455,758 shares of the company’s stock worth $17,707,000 after purchasing an additional 416,639 shares during the last quarter. Hedge funds and other institutional investors own 96.82% 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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