In a note to investors distributed on the 28th of August, KeyCorp investment analysts provided their forecasts for the earnings per share that Malibu Boats will generate during the second quarter of 2024. According to projections made by an information business analyst by the name of B. Andress, the company would bring in revenue equal to $1.65 per share during the last quarter of the year. According to the most recent and comprehensive estimate available, it is predicted that Malibu Boats will generate earnings of $8.32 per share for the year. Malibu Boats is expected to bring in $2.74 during the third quarter of 2024, as stated by KeyCorp’s projection. Recently, we have seen an increase in other equity analysts who have mentioned the company in their conversations. Robert W. Baird published a research note on Friday in which he rated Malibu Boats as “outperform,” indicating that the firm expects the company’s performance to be above average. The company’s target price, which the company had previously set at $62, was increased by the firm to $72. B. Riley gave Malibu Boats a “buy” rating in a research report released on Tuesday, June 21st. At the same time, the target price that B. Riley had projected for the company dropped from $103.00 to $89.00. The company was the subject of the study.
The “hold” recommendation that Bloomberg had previously given to Malibu Boats was upgraded to a “buy” rating in a research note published on the 11th of August. Malibu Boats was given a “buy” rating by Truist Financial, published in a research note made available on Friday. Additionally, the company’s price objective was increased from $70.00 to $75.00. In a research note released on Monday, BMO Capital Markets cut its “outperform” rating on Malibu Boats and decreased its price objective on the company from $106.00 to $94.000. These changes were made in response to the company’s recent financial results. According to the recommendations of eight analysts surveyed, investors are encouraged to buy the stock. According to the information provided by Bloomberg, the current consensus rating for the company is “Buy,” and the current consensus target price is $81.88. In addition, the current consensus rating for the company is “Buy.” MBUU shares began trading on the NASDAQ for $62.01 per share. The company is estimated to have a market capitalization of 1.27 billion dollars, with an earnings multiple of 8.26 and a beta of 1.60. The value of the current ratio is 2.14, the value of the quick ratio is 1.02, and the value of the debt to equity ratio is 0.23. All three ratios are positive. The current moving average for the company over the past 50 days is $60.25, while the moving average for the stock over the past 200 days is $58.81. Over the previous year, $48 was the best price for a Malibu boat. Over the previous year, $78 was the highest price. The most recent earnings report that Malibu Boats (NASDAQ: MBUU) made was distributed on the 25th of August.
The company announced results for the quarter of $2.43 per share, which was $0.14 more than the consensus expectation of $2.29 per share. The company reported a total of $353.20 million in sales during the quarter, which is significantly higher than the consensus estimate of $329.01 million in sales during the quarter. Malibu Boats had a return on equity of 36.24 percent, and the company’s net margin came in at 12.98 percent. Compared to the same quarter in the prior year, the amount of money that Malibu Boats made during that period saw a 27.6% increase. The company posted earnings of $1.77 per share during the same period the year before compared to the current year. In other news concerning Malibu Boats, Director Peter E. Murphy purchased 700 shares of the company’s stock on June 15th, bringing the total number of shares he owns to 1,300. The stock was purchased for a total cost of $37,800.00, which works out to an average price of $54.00 per share. After the completion of the transaction, the director is now the direct owner of 26,780 company shares, with a total value of $1,446,120. Following the link provided in the prior sentence, you will be able to see the notice of the transaction submitted to the Securities and Exchange Commission in the form of a legal filing. This notice can be viewed in full by following the link. People currently employed by the company hold 1.73 percent of the total shares outstanding in the company. Several institutional investors have recently changed the distribution of MBUU shares that they now hold in their portfolios. In the second quarter, about $9,260,000 was spent by Millennium Management LLC to purchase new ownership in Malibu Boats. The transaction mentioned above occurred sometime during the second quarter.
Assenagon Asset Management S.A. increased the percentage of Malibu Boats in which it held a holding by 3,881.5% during the second quarter. Assenagon Asset Management S.A. now has 159,459 shares of the firm after purchasing an additional 155,454 shares during the quarter. The value of these shares is $8,405,000 due to the company’s recent acquisitions. Cubist Systematic Strategies LLC increased the number of Malibu boat shares it owned by 741.33% during the year’s second quarter. As a result of the purchase of an additional 110,884 shares during the quarter, Cubist Systematic Strategies LLC now owns 125,843 shares in the company. These shares have a value of $6,633,000 and give the firm a market capitalization of $6,633,000. Lazard Asset Management LLC increased the proportion of Malibu Boats in which it invested by 16.0% during the year’s second quarter. Since the beginning of the previous quarter, Lazard Asset Management LLC has increased the number of shares it has in the firm by 86,453. This brings the total number of shares it owns in the company to 626,985, which has an estimated market value of $33,048,000.
Last but not least, Russell Investments Group Ltd. increased the number of Malibu boat shares it owned by 188.9% during the first quarter. This certainly should not be considered the least important development. Following the acquisition of 79,712 shares of the company’s stock throughout the quarter, Russell Investments Group Ltd. now holds 121,919 shares. The stock of the company is currently trading at a market value of $7,071,000 as of right now. Institutional investors and hedge funds collectively own 94.60% of the total number of shares in the company, making up the majority of the shareholders. Malibu Boats, Inc. is designing, developing, manufacturing, marketing, and retailing various recreational powerboats. They also do wholesale business. Malibu, Saltwater Fishing, and Cobalt are the three divisions that come together to form the corporation. Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt are some of the names the firm uses when marketing and selling its sport boats, sterndrive boats, and outboard boats. Other names include Cobalt and Pathfinder.
