Malibu Boats, Inc. engages in the design, engineering, manufacturing, marketing, and sale of a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands. Its products are used for a range of recreational boating activities, including water sports, such as water skiing, wakeboarding, and wake surfing, as well as general recreational boating and fishing. The company sells its products through independent dealers in North America, Europe, Asia, the Middle East, South America, South Africa, and Australia/New Zealand. Malibu Boats, Inc. was founded in 1982 and is headquartered in Loudon, Tennessee.
Malibu Boats Trading Up 1.1 %
NASDAQ:MBUU traded up $0.73 during midday trading on Monday, hitting $67.26. 2,231 shares of the company traded hands, compared to its average volume of 176,127. The firm's fifty day moving average is $57.63 and its 200-day moving average is $58.78. Malibu Boats has a 12-month low of $48.31 and a 12-month high of $82.86. The firm has a market capitalization of $1.38 billion, a P/E ratio of 9.78 and a beta of 1.60. The company has a current ratio of 1.23, a quick ratio of 0.50 and a debt-to-equity ratio of 0.10.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on MBUU shares. KeyCorp set a $70.00 price target on Malibu Boats in a research note on Tuesday, July 19th. StockNews.com raised Malibu Boats from a "hold" rating to a "buy" rating in a report on Thursday. B. Riley decreased their price objective on Malibu Boats from $103.00 to $89.00 and set a "buy" rating on the stock in a report on Tuesday, June 21st. Finally, Robert W. Baird decreased their price objective on Malibu Boats from $70.00 to $62.00 and set an "outperform" rating on the stock in a report on Monday, July 18th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $79.00.
Insider Activity at Malibu Boats
In related news, Director Peter E. Murphy purchased 700 shares of the firm's stock in a transaction that occurred on Wednesday, June 15th. The shares were bought at an average price of $54.00 per share, for a total transaction of $37,800.00. Following the acquisition, the director now owns 26,780 shares of the company's stock, valued at approximately $1,446,120. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.73% of the stock is currently owned by insiders.