After SunTrust Robinson and B.Riley FBR gave Malibu Boats (NASDAQ: MBUU) a Buy rating last month, the company received another Buy, this time from KeyBanc. Analyst Brett Andress maintained a Buy rating on Malibu Boats today and set a price target of $40.00. The company’s shares closed last Monday at $24.64.
According to TipRanks.com, Andress is a 1-star analyst with an average return of -5.6% and a 44.8% success rate. Andress covers the Consumer Goods sector, focusing on stocks such as Winnebago Industries, Harley-Davidson, and Thor Industries.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Malibu Boats with a $37.83 average price target, a 39.5% upside from current levels. In a report issued on April 3, SunTrust Robinson also maintained a Buy rating on the stock with a $28.00 price target.
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Based on Malibu Boats’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $180 million and net profit of $16.72 million. In comparison, last year the company earned revenue of $166 million and had a net profit of $14.26 million.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MBUU in relation to earlier this year. Most recently, in February 2020, Ritchie Anderson, the COO of MBUU sold 20,970 shares for a total of $997,220.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Malibu Boats, Inc. is a holding company, which engages in the design, manufacture, and market of recreational powerboats. It offers performance sport boats, sterndrive, and outboard boats under the Malibu, Axis, Cobalt, and Pursuit brands. It operates through the following segments: Malibu U.S., Malibu Australia, Cobalt, and Pursuit. The Malibu U.S. segment serves markets in North America, South America, Europe, and Asia. The Malibu Australia segment covers the Australian, and New Zealand markets. The Cobalt segment offers Cobalt boats throughout the world. The Pursuit segment involves in the distribution and sale of Pursuit boats throughout the world. The company was founded in 1982 and is headquartered in Loudon, TN.
