Surf Cat

Wall Street brokerages expect Malibu Boats Inc (NASDAQ:MBUU) to post sales of $176.66 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Malibu Boats’ earnings, with the highest sales estimate coming in at $180.18 million and the lowest estimate coming in at $173.30 million. Malibu Boats reported sales of $172.08 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.7%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 5th.

According to Zacks, analysts expect that Malibu Boats will report full-year sales of $789.02 million for the current year, with estimates ranging from $772.68 million to $802.24 million. For the next year, analysts anticipate that the firm will post sales of $863.13 million, with estimates ranging from $811.73 million to $898.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Malibu Boats.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, August 27th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.12 by $0.28. Malibu Boats had a net margin of 9.43% and a return on equity of 28.59%. The firm had revenue of $118.70 million during the quarter, compared to analysts’ expectations of $100.41 million. During the same quarter in the prior year, the firm earned $1.08 EPS. Malibu Boats’s quarterly revenue was down 39.1% on a year-over-year basis.

Several research analysts have recently issued reports on MBUU shares. Zacks Investment Research upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Tuesday, August 25th. BMO Capital Markets increased their price objective on shares of Malibu Boats from $38.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, September 1st. TheStreet upgraded shares of Malibu Boats from a “c+” rating to a “b-” rating in a report on Wednesday, May 20th. B. Riley upgraded shares of Malibu Boats from a “neutral” rating to a “buy” rating and increased their price objective for the company from $56.00 to $75.00 in a report on Friday, August 28th. Finally, SunTrust Banks increased their price objective on shares of Malibu Boats from $45.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.25.

In related news, COO Ritchie L. Anderson sold 16,889 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $54.13, for a total transaction of $914,201.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in Malibu Boats by 55.8% during the second quarter. SG Americas Securities LLC now owns 11,337 shares of the company’s stock valued at $589,000 after purchasing an additional 4,060 shares during the last quarter. AQR Capital Management LLC boosted its stake in Malibu Boats by 156.4% in the 1st quarter. AQR Capital Management LLC now owns 39,429 shares of the company’s stock worth $1,135,000 after purchasing an additional 24,051 shares during the period. Aigen Investment Management LP purchased a new position in Malibu Boats during the 2nd quarter worth approximately $201,000. Swiss National Bank raised its stake in Malibu Boats by 15.0% during the 2nd quarter. Swiss National Bank now owns 45,900 shares of the company’s stock valued at $2,385,000 after purchasing an additional 6,000 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Malibu Boats by 1,117.0% in the second quarter. Russell Investments Group Ltd. now owns 46,879 shares of the company’s stock valued at $2,431,000 after purchasing an additional 43,027 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

NASDAQ MBUU opened at $50.80 on Monday. Malibu Boats has a 52 week low of $18.02 and a 52 week high of $63.88. The company has a current ratio of 1.77, a quick ratio of 1.83 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 17.22 and a beta of 1.99. The company has a 50-day moving average price of $57.26 and a two-hundred day moving average price of $44.31.

Malibu Boats Company Profile

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.

Featured Story: What are retained earnings?

Get a free copy of the Zacks research report on Malibu Boats (MBUU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]