Malibu Boats (NASDAQ:MBUU) Upgraded to “Buy” at upgraded shares of Malibu Boats (NASDAQ:MBUUGet Rating) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Several other research analysts also recently commented on the company. KeyCorp decreased their price objective on Malibu Boats from $94.00 to $80.00 in a research note on Thursday, May 12th. Robert W. Baird decreased their target price on Malibu Boats from $80.00 to $70.00 in a research note on Wednesday, May 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $80.33.

Shares of NASDAQ:MBUU opened at $51.20 on Friday. The stock’s 50-day simple moving average is $54.66 and its two-hundred day simple moving average is $61.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.50 and a current ratio of 1.23. Malibu Boats has a 52-week low of $48.31 and a 52-week high of $86.65. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 7.53 and a beta of 1.60.

Malibu Boats (NASDAQ:MBUUGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $1.88 by $0.67. Malibu Boats had a return on equity of 36.30% and a net margin of 12.60%. The firm had revenue of $344.30 million for the quarter, compared to the consensus estimate of $304.49 million. During the same quarter last year, the company earned $1.75 earnings per share. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, equities analysts forecast that Malibu Boats will post 7.56 earnings per share for the current fiscal year.

In related news, Director Peter E. Murphy bought 700 shares of the company’s stock in a transaction dated Wednesday, June 15th. The stock was purchased at an average price of $54.00 per share, for a total transaction of $37,800.00. Following the acquisition, the director now owns 26,780 shares in the company, valued at $1,446,120. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.73% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Selective Wealth Management Inc. purchased a new position in Malibu Boats during the 4th quarter valued at $27,000. Captrust Financial Advisors lifted its holdings in shares of Malibu Boats by 128.1% in the 1st quarter. Captrust Financial Advisors now owns 1,843 shares of the company’s stock worth $107,000 after buying an additional 1,035 shares during the period. FourThought Financial LLC raised its position in shares of Malibu Boats by 9.1% in the 4th quarter. FourThought Financial LLC now owns 2,277 shares of the company’s stock worth $156,000 after acquiring an additional 190 shares in the last quarter. FDx Advisors Inc. acquired a new position in Malibu Boats during the 4th quarter valued at about $222,000. Finally, Tudor Investment Corp Et Al purchased a new stake in Malibu Boats during the 3rd quarter valued at about $235,000. Institutional investors own 92.42% of the company’s stock.

Malibu Boats Company Profile (Get Rating)

Malibu Boats, Inc engages in the design, engineering, manufacturing, marketing, and sale of a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.

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