ValuEngine upgraded shares of Malibu Boats, Inc. (NASDAQ:MBUU) from a buy rating to a strong-buy rating in a research report released on Wednesday.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Malibu Boats from a hold rating to a buy rating and set a $26.00 price target on the stock in a report on Tuesday, May 9th. B. Riley reaffirmed a buy rating and issued a $26.00 price target on shares of Malibu Boats in a report on Saturday, May 13th. BidaskClub downgraded shares of Malibu Boats from a strong-buy rating to a buy rating in a research report on Saturday, August 5th. BMO Capital Markets reiterated a hold rating and issued a $29.00 price objective on shares of Malibu Boats in a research report on Wednesday, July 5th. Finally, KeyCorp reiterated an overweight rating and issued a $31.00 price objective on shares of Malibu Boats in a research report on Wednesday, August 30th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $26.38.

Shares of Malibu Boats (NASDAQ:MBUU) opened at 26.79 on Wednesday. The company has a market capitalization of $480.34 million, a P/E ratio of 21.43 and a beta of 0.99. Malibu Boats has a 12 month low of $13.96 and a 12 month high of $29.50. The company’s 50 day moving average price is $27.09 and its 200 day moving average price is $24.32.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, September 7th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. Malibu Boats had a net margin of 8.15% and a return on equity of 98.64%. The company had revenue of $75.11 million for the quarter, compared to analyst estimates of $73.35 million. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. Analysts expect that Malibu Boats will post $1.55 EPS for the current fiscal year.

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Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Malibu Boats in the second quarter worth about $116,000. Susquehanna International Group LLP acquired a new position in shares of Malibu Boats in the second quarter worth about $200,000. Stevens Capital Management LP acquired a new position in shares of Malibu Boats in the second quarter worth about $201,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Malibu Boats in the first quarter worth about $206,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Malibu Boats in the second quarter worth about $211,000.

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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