Malibu Boats Inc (MBUU) was Reiterated by Wunderlich to “Buy” while Lowering the Price Target of the company shares to $ 23 from a previous price target of $27 . Wunderlich advised their investors in a research report released on May 4, 2016.
On the company’s financial health, Malibu Boats Inc reported $0.40 EPS for the quarter, based on the information available during the earnings call on May 4, 2016. Analyst had a consensus estimate of $0.40. The company had revenue of $68.50 million for the quarter, compared to analysts expectations of $69.91 million. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.
Malibu Boats Inc closed down -0.13 points or -0.74% at $17.47 with 1,13,654 shares getting traded on Monday. Post opening the session at $17.76, the shares hit an intraday low of $17.23 and an intraday high of $17.77 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on May 27, 2015, Phillip S. Estes (director) sold 639,612 shares at $19.05 per share price. According to the SEC, on May 27, 2015, Deborah S. Kent (VP Human Resources) sold 4,798 shares at $19.05 per share price. On May 27, 2015, Ritchie L. Anderson (Chief Operating Officer) sold 29,183 shares at $19.05 per share price, according to the Form-4 filing with the securities and exchange commission.
Malibu Boats Inc. is a designer manufacturer and marketer of performance sport boats. The Companys boats are used for water sports including water skiing wakeboarding and wake surfing as well as general recreational boating. The Company sells its boats under two brands: Malibu and Axis. Its flagship Malibu brand boats are designed for consumers seeking a premium boating experience. The Companys Axis brand of boats are designed to appeal to consumers who desire a more affordable product but still demand high performance functional simplicity and the option to upgrade key features. The Companys boats are constructed of fiberglass equipped with inboard propulsion systems and available in a range of sizes and hull designs.