B. Riley Lowers Malibu Boats (NASDAQ:MBUU) Price Target to $39.00

Malibu Boats (NASDAQ:MBUU) had its target price decreased by investment analysts at B. Riley from $45.00 to $39.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley’s target price would indicate a potential upside of 14.84% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Monday, February 26th. KeyCorp lowered their price target on shares of Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Robert W. Baird reaffirmed an “outperform” rating and issued a $54.00 price target on shares of Malibu Boats in a report on Friday, January 19th. Raymond James downgraded shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Truist Financial lowered their price target on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $49.00.

Malibu Boats Trading Down 2.7 %

Shares of Malibu Boats stock opened at $33.96 on Tuesday. The company has a fifty day moving average of $42.41 and a 200 day moving average of $46.45. Malibu Boats has a fifty-two week low of $33.89 and a fifty-two week high of $62.36. The company has a market capitalization of $693.80 million, a P/E ratio of 10.88 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The business had revenue of $211.07 million during the quarter, compared to the consensus estimate of $219.64 million. During the same quarter in the prior year, the firm earned $1.78 EPS. The business’s revenue was down 37.7% on a year-over-year basis. On average, sell-side analysts anticipate that Malibu Boats will post 2.55 earnings per share for the current fiscal year.

Insider Activity at Malibu Boats

In other news, insider Michael K. Hooks acquired 12,500 shares of Malibu Boats stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average cost of $42.82 per share, with a total value of $535,250.00. Following the transaction, the insider now directly owns 12,500 shares of the company’s stock, valued at approximately $535,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.62% of the stock is owned by insiders.

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBUU. IFP Advisors Inc purchased a new stake in Malibu Boats in the 3rd quarter worth about $25,000. Quarry LP purchased a new position in shares of Malibu Boats during the second quarter worth approximately $25,000. Public Employees Retirement System of Ohio increased its position in shares of Malibu Boats by 44.7% during the third quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock worth $27,000 after acquiring an additional 173 shares during the period. Comerica Bank purchased a new position in shares of Malibu Boats during the third quarter worth approximately $27,000. Finally, Ensign Peak Advisors Inc purchased a new position in shares of Malibu Boats during the third quarter worth approximately $29,000. 91.35% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Company Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.