Malibu Boats Receives a Buy from BMO Capital

By Ryan Adsit

BMO Capital analyst Gerrick Johnson reiterated a Buy rating on Malibu Boats (NASDAQ: MBUU) today and set a price target of $32. The company’s shares closed yesterday at $31.82, close to its 52-week high of $33.35.

According to TipRanks.com, Johnson is a 4-star analyst with an average return of 11.2% and a 57.7% success rate. Johnson covers the Consumer Goods sector, focusing on stocks such as Brunswick Corporation, Winnebago Industries, and Activision Blizzard.

Currently, the analyst consensus on Malibu Boats is Strong Buy and the average price target is $31.45, representing a -1.2% downside.

In a report issued on October 2, Aegis Capital also initiated coverage with a Buy rating on the stock with a $37 price target.

Based on Malibu Boats’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $75.11 million and quarterly net profit of $9.66 million. In comparison, last year the company earned revenue of $62.02 million and had a net profit of $3.78 million.

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 performance sport boats. Its boats are used for water sports, including water skiing, wakeboarding and wake surfing, as well as general recreational boating under the brands Malibu and Axis Wake Research.