Zacks Investment Research Upgrades Malibu Boats (MBUU) to Buy

Zacks Investment Research upgraded shares of Malibu Boats (NASDAQ:MBUU) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. They currently have $47.00 price target on the stock.

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. “

Other equities research analysts also recently issued reports about the stock. BidaskClub upgraded shares of Malibu Boats from a hold rating to a buy rating in a research report on Monday, February 4th. B. Riley upgraded shares of Malibu Boats from a neutral rating to a buy rating in a research report on Tuesday, January 22nd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Malibu Boats presently has an average rating of Buy and an average target price of $55.83.

Shares of NASDAQ MBUU traded down $0.85 during midday trading on Thursday, reaching $40.43. The company’s stock had a trading volume of 2,330 shares, compared to its average volume of 151,735. The company has a current ratio of 1.61, a quick ratio of 0.72 and a debt-to-equity ratio of 0.68. Malibu Boats has a fifty-two week low of $32.09 and a fifty-two week high of $59.57. The company has a market cap of $865.14 million, a price-to-earnings ratio of 15.99, a PEG ratio of 0.78 and a beta of 1.80.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, May 9th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. Malibu Boats had a net margin of 9.41% and a return on equity of 44.85%. The company had revenue of $199.92 million during the quarter, compared to the consensus estimate of $188.31 million. During the same period in the previous year, the business earned $0.89 earnings per share. The firm’s quarterly revenue was up 42.4% on a year-over-year basis. On average, equities research analysts forecast that Malibu Boats will post 3.55 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Malibu Boats by 3.3% during the fourth quarter. BlackRock Inc. now owns 1,637,655 shares of the company’s stock valued at $56,990,000 after purchasing an additional 52,004 shares in the last quarter. Macquarie Group Ltd. raised its position in Malibu Boats by 5.6% during the fourth quarter. Macquarie Group Ltd. now owns 1,266,606 shares of the company’s stock valued at $44,077,000 after purchasing an additional 67,617 shares in the last quarter. Lord Abbett & CO. LLC raised its position in Malibu Boats by 18.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,242,146 shares of the company’s stock valued at $43,227,000 after purchasing an additional 192,588 shares in the last quarter. Renaissance Technologies LLC raised its position in Malibu Boats by 1.9% during the first quarter. Renaissance Technologies LLC now owns 1,099,301 shares of the company’s stock valued at $43,510,000 after purchasing an additional 20,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Malibu Boats by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 824,138 shares of the company’s stock valued at $32,620,000 after purchasing an additional 4,041 shares in the last quarter. Institutional investors and hedge funds own 98.07% of the company’s stock.

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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