Wells Fargo & Co upgraded shares of Malibu Boats (NASDAQ:MBUU) from a market perform rating to an outperform rating in a research report released on Thursday, August 23rd, MarketBeat Ratings reports. Wells Fargo & Co currently has $51.00 price objective on the stock, up from their prior price objective of $44.00.

Several other research analysts also recently commented on MBUU. Zacks Investment Research upgraded Malibu Boats from a sell rating to a hold rating in a report on Wednesday, April 25th. KeyCorp raised their price objective on Malibu Boats from $40.00 to $46.00 and gave the stock an overweight rating in a report on Thursday, May 3rd. BMO Capital Markets raised their price objective on Malibu Boats from $40.00 to $48.00 and gave the stock an outperform rating in a report on Thursday, May 3rd. SunTrust Banks lifted their price target on Malibu Boats to $48.00 and gave the company a positive rating in a report on Thursday, May 3rd. Finally, BidaskClub downgraded Malibu Boats from a strong-buy rating to a buy rating in a report on Friday, June 22nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $52.94.

Shares of MBUU stock traded up $0.81 on Thursday, reaching $53.01. 319,761 shares of the company’s stock were exchanged, compared to its average volume of 248,013. Malibu Boats has a 52 week low of $27.36 and a 52 week high of $59.57. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 2.05. The firm has a market capitalization of $1.08 billion, a P/E ratio of 21.04, a P/E/G ratio of 1.10 and a beta of 1.13.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, September 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.17. Malibu Boats had a return on equity of 43.60% and a net margin of 5.56%. The firm had revenue of $138.66 million during the quarter, compared to analyst estimates of $122.65 million. During the same period last year, the company earned $0.43 EPS. Malibu Boats’s quarterly revenue was up 84.6% compared to the same quarter last year. sell-side analysts forecast that Malibu Boats will post 3.18 EPS for the current year.

In other Malibu Boats news, insider Clair William Paxson St, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $52.60, for a total transaction of $789,000.00. Following the completion of the sale, the insider now directly owns 24,262 shares in the company, valued at approximately $1,276,181.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jackie D. Jr. Springer sold 95,985 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $52.81, for a total value of $5,068,967.85. The disclosure for this sale can be found here. In the last three months, insiders sold 135,823 shares of company stock valued at $7,160,569. Insiders own 3.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of MBUU. Millennium Management LLC grew its position in shares of Malibu Boats by 1,966.0% in the second quarter. Millennium Management LLC now owns 285,726 shares of the company’s stock valued at $11,983,000 after purchasing an additional 271,896 shares in the last quarter. Stifel Financial Corp acquired a new position in Malibu Boats in the first quarter valued at approximately $8,418,000. Lord Abbett & CO. LLC lifted its holdings in Malibu Boats by 49.1% in the first quarter. Lord Abbett & CO. LLC now owns 732,733 shares of the company’s stock valued at $24,334,000 after acquiring an additional 241,239 shares during the last quarter. Columbus Circle Investors acquired a new position in Malibu Boats in the first quarter valued at approximately $7,307,000. Finally, Renaissance Technologies LLC lifted its holdings in Malibu Boats by 31.1% in the second quarter. Renaissance Technologies LLC now owns 649,500 shares of the company’s stock valued at $27,240,000 after acquiring an additional 154,200 shares during the last quarter. Institutional investors and hedge funds own 98.31% of the company’s stock.

Malibu Boats Company Profile

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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