Malibu Boats (NASDAQ:MBUU) Upgraded at BidaskClub

Malibu Boats (NASDAQ:MBUU) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday, BidAskClub reports.

Other equities research analysts have also issued research reports about the company. B. Riley lifted their price objective on Malibu Boats from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Berenberg Bank assumed coverage on Malibu Boats in a research note on Wednesday, January 15th. They set a “buy” rating and a $50.00 price objective for the company. Zacks Investment Research raised Malibu Boats from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Thursday. BMO Capital Markets reissued an “outperform” rating and set a $60.00 price objective on shares of Malibu Boats in a research note on Friday, February 7th. Finally, KeyCorp lifted their price objective on Malibu Boats from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $52.00.

NASDAQ:MBUU opened at $49.86 on Friday. The firm has a market capitalization of $974.48 million, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.23 and a beta of 1.97. Malibu Boats has a 52-week low of $24.79 and a 52-week high of $51.45. The stock has a fifty day moving average of $43.24 and a 200 day moving average of $35.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.55.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.24. The company had revenue of $180.10 million during the quarter, compared to analyst estimates of $164.13 million. Malibu Boats had a return on equity of 39.76% and a net margin of 9.79%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. Equities analysts forecast that Malibu Boats will post 3.84 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of MBUU. 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 Malibu Boats during the fourth quarter worth about $50,000. Acadian Asset Management LLC bought a new stake in Malibu Boats during the fourth quarter worth about $73,000. Boston Partners bought a new stake in Malibu Boats during the fourth quarter worth about $98,000. Finally, SG Americas Securities LLC bought a new stake in Malibu Boats during the third quarter worth about $146,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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