Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Malibu Boats from a hold rating to a buy rating and set a $55.00 price objective on the stock in a report on Tuesday, June 16th. SunTrust Banks increased their price objective on Malibu Boats from $45.00 to $62.00 and gave the stock a buy rating in a report on Thursday, June 11th. BMO Capital Markets increased their price target on Malibu Boats from $27.00 to $38.00 and gave the company a market perform rating in a report on Monday, May 11th. B. Riley increased their price target on Malibu Boats from $42.00 to $53.00 and gave the company a neutral rating in a report on Monday, June 8th. Finally, TheStreet upgraded Malibu Boats from a c+ rating to a b- rating in a report on Wednesday, May 20th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $50.25.
NASDAQ:MBUU opened at $50.40 on Friday. The stock’s 50 day moving average price is $48.44 and its 200 day moving average price is $39.91. Malibu Boats has a 52 week low of $18.02 and a 52 week high of $56.93. The company has a market capitalization of $1.03 billion, a P/E ratio of 14.08 and a beta of 2.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.83 and a current ratio of 2.83.
In other news, Director Peter E. Murphy sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $50.67, for a total value of $152,010.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark W. Lanigan sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $45.89, for a total value of $1,147,250.00. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of MBUU. Private Capital Group LLC bought a new position in Malibu Boats in the first quarter worth $27,000. Great West Life Assurance Co. Can bought a new position in Malibu Boats in the fourth quarter worth $50,000. Verus Capital Partners LLC bought a new position in Malibu Boats in the fourth quarter worth $57,000. Acadian Asset Management LLC bought a new position in Malibu Boats in the fourth quarter worth $73,000. Finally, Advisor Group Holdings Inc. bought a new position in Malibu Boats in the first quarter worth $78,000.
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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