Malibu Boats (NASDAQ:MBUU) Trading Up 7.7%

Shares of Malibu Boats Inc (NASDAQ:MBUU) were up 7.7% during mid-day trading on Tuesday . The stock traded as high as $25.13 and last traded at $24.88, approximately 196,338 shares traded hands during trading. A decline of 8% from the average daily volume of 212,984 shares. The stock had previously closed at $23.10.

Several research firms recently commented on MBUU. Berenberg Bank started coverage on shares of Malibu Boats in a research report on Wednesday, January 15th. They issued a “buy” rating and a $50.00 price objective on the stock. Wells Fargo & Co reissued a “buy” rating on shares of Malibu Boats in a research note on Friday, February 7th. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Thursday, February 13th. ValuEngine lowered Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, March 20th. Finally, Raymond James raised Malibu Boats from a “market perform” rating to an “outperform” rating and set a $56.00 price objective for the company in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $49.63.

The stock’s 50-day moving average price is $39.77 and its 200 day moving average price is $37.49. The firm has a market cap of $475.51 million, a P/E ratio of 7.59 and a beta of 1.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.55 and a quick ratio of 0.61.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.24. Malibu Boats had a net margin of 9.79% and a return on equity of 39.76%. The firm had revenue of $180.10 million for the quarter, compared to analyst estimates of $164.13 million. During the same period in the previous year, the business earned $0.86 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, analysts forecast that Malibu Boats Inc will post 4 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Aigen Investment Management LP bought a new stake in Malibu Boats during the fourth quarter worth about $30,000. Great West Life Assurance Co. Can bought a new stake in shares of Malibu Boats during the 4th quarter worth approximately $50,000. Verus Capital Partners LLC acquired a new stake in shares of Malibu Boats in the 4th quarter valued at approximately $57,000. Acadian Asset Management LLC acquired a new stake in shares of Malibu Boats in the 4th quarter valued at approximately $73,000. Finally, Boston Partners bought a new position in shares of Malibu Boats in the fourth quarter valued at $98,000. Institutional investors own 98.49% of the company’s stock.

Malibu Boats Company Profile (NASDAQ:MBUU)

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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