Malibu Boats Inc (NASDAQ:MBUU)’s share price hit a new 52-week high during trading on Wednesday after BMO Capital Markets raised their price target on the stock from $34.00 to $40.00. BMO Capital Markets currently has a top pick rating on the stock. Malibu Boats traded as high as $34.99 and last traded at $34.29, with a volume of 340500 shares. The stock had previously closed at $34.29.

A number of other equities analysts have also commented on MBUU. KeyCorp reissued a “buy” rating and issued a $31.00 price target on shares of Malibu Boats in a report on Friday, October 20th. Zacks Investment Research lowered shares of Malibu Boats from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Wells Fargo & Co reissued an “outperform” rating and issued a $36.00 price target (up previously from $30.00) on shares of Malibu Boats in a report on Wednesday, November 8th. B. Riley reissued a “neutral” rating and issued a $29.50 price target (up previously from $25.50) on shares of Malibu Boats in a report on Monday, November 6th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Malibu Boats in a research note on Friday, November 10th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Malibu Boats presently has an average rating of “Buy” and an average price target of $34.53.

In other news, VP Deborah S. Kent sold 1,497 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $31.16, for a total value of $46,646.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Wayne R. Wilson sold 35,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $31.20, for a total transaction of $1,092,000.00. The disclosure for this sale can be found here. Insiders sold a total of 91,497 shares of company stock valued at $2,853,897 in the last ninety days. 3.50% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. PEAK6 Investments L.P. boosted its stake in shares of Malibu Boats by 222.5% in the 4th quarter. PEAK6 Investments L.P. now owns 11,759 shares of the company’s stock valued at $350,000 after purchasing an additional 21,359 shares in the last quarter. Hillcrest Asset Management LLC purchased a new stake in shares of Malibu Boats in the 4th quarter valued at $10,329,000. Teachers Advisors LLC boosted its stake in shares of Malibu Boats by 68.7% in the 4th quarter. Teachers Advisors LLC now owns 289,504 shares of the company’s stock valued at $8,607,000 after purchasing an additional 117,872 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Malibu Boats in the 4th quarter valued at $236,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Malibu Boats by 0.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 211,658 shares of the company’s stock valued at $6,292,000 after purchasing an additional 1,822 shares in the last quarter.

The firm has a market capitalization of $707.39, a P/E ratio of 35.79, a PEG ratio of 1.14 and a beta of 1.07. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.46.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Friday, February 9th. The company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The business had revenue of $114.37 million during the quarter, compared to analysts’ expectations of $108.84 million. Malibu Boats had a net margin of 4.64% and a return on equity of 51.61%. The firm’s revenue for the quarter was up 69.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 EPS. analysts anticipate that Malibu Boats Inc will post 1.96 EPS for the current year.

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Malibu Boats Company Profile

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.

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