Malibu Boats Inc (NASDAQ:MBUU) – Investment analysts at B. Riley raised their FY2019 EPS estimates for Malibu Boats in a research note issued on Wednesday, November 7th. B. Riley analyst E. Wold now forecasts that the company will earn $3.38 per share for the year, up from their previous forecast of $3.12. B. Riley has a “Buy” rating and a $60.00 price target on the stock. B. Riley also issued estimates for Malibu Boats’ FY2020 earnings at $3.75 EPS.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.13. Malibu Boats had a net margin of 6.39% and a return on equity of 44.97%. The firm had revenue of $123.50 million during the quarter, compared to analyst estimates of $113.67 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 19.3% compared to the same quarter last year.

MBUU has been the subject of several other research reports. SunTrust Banks increased their price target on shares of Malibu Boats to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. BMO Capital Markets raised their price objective on shares of Malibu Boats from $48.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, September 7th. BidaskClub lowered shares of Malibu Boats from a “strong-buy” rating to a “buy” rating in a report on Friday, October 19th. ValuEngine lowered shares of Malibu Boats from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Finally, Raymond James raised their price objective on shares of Malibu Boats from $48.00 to $61.00 and gave the stock a “strong-buy” rating in a report on Friday, September 7th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $56.57.

NASDAQ:MBUU opened at $48.71 on Monday. Malibu Boats has a 12-month low of $27.61 and a 12-month high of $59.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.19 and a quick ratio of 1.43. The stock has a market capitalization of $983.15 million, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 0.95 and a beta of 1.45.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Invictus RG acquired a new stake in shares of Malibu Boats during the third quarter worth approximately $402,000. Renaissance Technologies LLC increased its holdings in shares of Malibu Boats by 24.1% during the third quarter. Renaissance Technologies LLC now owns 806,200 shares of the company’s stock worth $44,115,000 after buying an additional 156,700 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Malibu Boats during the third quarter valued at approximately $11,783,000. JPMorgan Chase & Co. grew its stake in shares of Malibu Boats by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 721,724 shares of the company’s stock valued at $39,493,000 after purchasing an additional 5,665 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Malibu Boats by 62.3% during the third quarter. Allianz Asset Management GmbH now owns 158,966 shares of the company’s stock valued at $8,699,000 after purchasing an additional 61,041 shares during the last quarter. 96.38% of the stock is owned by institutional investors.

In other news, COO Ritchie L. Anderson sold 10,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $52.58, for a total transaction of $565,235.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jackie D. Jr. Springer sold 95,985 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $52.81, for a total transaction of $5,068,967.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 215,823 shares of company stock valued at $11,390,169. Company insiders own 3.35% of the company’s stock.

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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Earnings History and Estimates for Malibu Boats (NASDAQ:MBUU)

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