Surf Cat

Malibu Boats Inc (NASDAQ:MBUU) traded up 12.7% on Thursday following a better than expected earnings announcement. The company traded as high as $39.68 and last traded at $38.01, approximately 844,824 shares were traded during trading. An increase of 273% from the average session volume of 226,798 shares. The stock had previously closed at $33.72.

The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.13. Malibu Boats had a return on equity of 44.28% and a net margin of 9.66%. The business had revenue of $172.10 million for the quarter, compared to the consensus estimate of $149.98 million. During the same quarter in the prior year, the company earned $0.67 EPS. The business’s revenue was up 39.4% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the company. BMO Capital Markets dropped their price target on Malibu Boats from $62.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. ValuEngine raised Malibu Boats from a “sell” rating to a “hold” rating in a research report on Friday. B. Riley dropped their price target on Malibu Boats from $62.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. BidaskClub raised Malibu Boats from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Co set a $40.00 price target on Malibu Boats and gave the stock a “buy” rating in a research report on Thursday, August 29th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $47.83.

Several institutional investors and hedge funds have recently bought and sold shares of MBUU. Advisor Group Inc. boosted its position in Malibu Boats by 111.1% during the second quarter. Advisor Group Inc. now owns 859 shares of the company’s stock valued at $33,000 after purchasing an additional 452 shares in the last quarter. Aperio Group LLC bought a new stake in Malibu Boats during the second quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Malibu Boats during the second quarter valued at about $68,000. SG Americas Securities LLC bought a new stake in Malibu Boats during the third quarter valued at about $146,000. Finally, First Quadrant L P CA bought a new stake in Malibu Boats during the third quarter valued at about $196,000.

The company has a market cap of $697.09 million, a P/E ratio of 10.31, a P/E/G ratio of 0.90 and a beta of 1.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.69 and a quick ratio of 0.79. The business has a 50-day moving average of $31.98 and a two-hundred day moving average of $34.20.

About Malibu Boats (NASDAQ:MBUU)

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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