Malibu Boats (MBUU) Earns “Buy” Rating from SunTrust Banks

SunTrust Banks restated their buy rating on shares of Malibu Boats (NASDAQ:MBUU) in a research note released on Friday morning. SunTrust Banks currently has a $37.00 price objective on the stock.

A number of other equities research analysts have also recently commented on the stock. KeyCorp restated a buy rating and issued a $31.00 price target on shares of Malibu Boats in a report on Friday, October 20th. BidaskClub cut shares of Malibu Boats from a buy rating to a hold rating in a report on Thursday, December 14th. BMO Capital Markets restated a buy rating and issued a $32.00 price target on shares of Malibu Boats in a report on Friday, October 13th. Zacks Investment Research upgraded shares of Malibu Boats from a hold rating to a strong-buy rating and set a $32.00 price target for the company in a report on Saturday, November 11th. Finally, Wells Fargo & Co restated an outperform rating and issued a $36.00 price target (up from $30.00) on shares of Malibu Boats in a report on Wednesday, November 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $33.44.

Shares of Malibu Boats (MBUU) opened at $33.40 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.46 and a debt-to-equity ratio of 0.94. The company has a market cap of $757.62, a price-to-earnings ratio of 34.43, a price-to-earnings-growth ratio of 1.02 and a beta of 1.07. Malibu Boats has a twelve month low of $20.21 and a twelve month high of $34.88.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Friday, February 9th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. The business had revenue of $114.37 million during the quarter, compared to analysts’ expectations of $108.84 million. Malibu Boats had a net margin of 9.42% and a return on equity of 54.78%. The business’s quarterly revenue was up 69.0% on a year-over-year basis. During the same period last year, the company posted $0.38 earnings per share. equities analysts predict that Malibu Boats will post 1.96 EPS for the current fiscal year.

In other Malibu Boats news, VP Deborah S. Kent sold 1,497 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $31.16, for a total value of $46,646.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jackie D. Jr. Springer sold 40,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $31.20, for a total transaction of $1,248,000.00. The disclosure for this sale can be found here. Insiders sold 91,497 shares of company stock worth $2,853,897 over the last ninety days. Insiders own 3.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its position in shares of Malibu Boats by 126.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,445 shares of the company’s stock valued at $133,000 after purchasing an additional 2,485 shares in the last quarter. Susquehanna International Group LLP bought a new position in shares of Malibu Boats during the second quarter valued at about $200,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Malibu Boats during the third quarter valued at about $288,000. Cavalier Investments LLC bought a new position in shares of Malibu Boats during the third quarter valued at about $318,000. Finally, Alliancebernstein L.P. bought a new position in shares of Malibu Boats during the second quarter valued at about $269,000.

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About Malibu Boats

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.

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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