Malibu Boats Inc (NASDAQ:MBUU) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 607,800 shares, an increase of 11.5% from the August 15th total of 545,300 shares. Based on an average trading volume of 268,200 shares, the short-interest ratio is presently 2.3 days. Approximately 3.0% of the company’s shares are sold short.
Several brokerages have recently commented on MBUU. KeyCorp reduced their target price on Malibu Boats from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Wells Fargo & Co set a $40.00 price target on shares of Malibu Boats and gave the company a “buy” rating in a research report on Thursday, August 29th. B. Riley dropped their price target on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. ValuEngine raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $47.83.
Malibu Boats stock traded up $1.52 during mid-day trading on Friday, reaching $31.00. The company’s stock had a trading volume of 179,578 shares, compared to its average volume of 259,219. The firm’s fifty day moving average price is $29.54 and its two-hundred day moving average price is $35.17. The company has a market capitalization of $610.95 million, a P/E ratio of 8.45, a PEG ratio of 0.78 and a beta of 1.79. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 1.69. Malibu Boats has a 12-month low of $24.79 and a 12-month high of $50.89.
Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, August 29th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.15. The company had revenue of $194.82 million during the quarter, compared to the consensus estimate of $185.75 million. Malibu Boats had a net margin of 9.66% and a return on equity of 44.28%. The firm’s revenue was up 40.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. On average, research analysts predict that Malibu Boats will post 3.82 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of MBUU. Advisor Group Inc. lifted its stake in Malibu Boats by 111.1% in the second quarter. Advisor Group Inc. now owns 859 shares of the company’s stock worth $33,000 after purchasing an additional 452 shares during the last quarter. Aperio Group LLC bought a new position in shares of Malibu Boats during the second quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Malibu Boats during the second quarter valued at about $68,000. State Board of Administration of Florida Retirement System bought a new position in shares of Malibu Boats during the second quarter valued at about $224,000. Finally, AlphaOne Investment Services LLC raised its stake in shares of Malibu Boats by 539.1% during the second quarter. AlphaOne Investment Services LLC now owns 5,937 shares of the company’s stock valued at $230,000 after acquiring an additional 5,008 shares during the last quarter.
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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