Analysts Set Malibu Boats, Inc. (NASDAQ:MBUU) PT at $43.00

Malibu Boats, Inc. (NASDAQ:MBUU) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $43.14.

A number of analysts have recently commented on MBUU shares. B. Riley reduced their price target on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. KeyCorp cut their target price on shares of Malibu Boats from $50.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Truist Financial cut their target price on shares of Malibu Boats from $52.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Raymond James lowered shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. Finally, Robert W. Baird cut their target price on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd.

Insider Buying and Selling at Malibu Boats

In other news, Director Mark W. Lanigan purchased 20,000 shares of the stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $33.43 per share, with a total value of $668,600.00. Following the completion of the acquisition, the director now directly owns 73,368 shares of the company’s stock, valued at $2,452,692.24. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On Malibu Boats

Several hedge funds have recently modified their holdings of the stock. Hohimer Wealth Management LLC lifted its holdings in shares of Malibu Boats by 3.0% in the fourth quarter. Hohimer Wealth Management LLC now owns 10,438 shares of the company’s stock worth $572,000 after buying an additional 301 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Malibu Boats by 13.8% in the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after buying an additional 318 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Malibu Boats by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock worth $194,000 after buying an additional 386 shares in the last quarter. Howe & Rusling Inc. lifted its holdings in shares of Malibu Boats by 14.7% in the third quarter. Howe & Rusling Inc. now owns 4,427 shares of the company’s stock worth $217,000 after buying an additional 569 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Malibu Boats by 1.8% in the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $2,226,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Up 1.9 %

NASDAQ:MBUU opened at $36.10 on Tuesday. The firm has a market cap of $737.88 million, a P/E ratio of -13.52 and a beta of 1.41. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67. Malibu Boats has a fifty-two week low of $31.47 and a fifty-two week high of $62.36. The firm has a 50-day simple moving average of $37.49 and a two-hundred day simple moving average of $43.97.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. The business had revenue of $203.42 million during the quarter, compared to analyst estimates of $205.83 million. Analysts predict that Malibu Boats will post 1.84 earnings per share for the current fiscal year.

About Malibu Boats

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.