Brokerages Set Malibu Boats, Inc. (NASDAQ:MBUU) Price Target at $44.57

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $44.57.

A number of analysts recently issued reports on MBUU shares. Robert W. Baird increased their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research report on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Friday, November 1st. Finally, Truist Financial raised their price objective on Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, November 1st.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MBUU. Price T Rowe Associates Inc. MD boosted its stake in shares of Malibu Boats by 9.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock valued at $439,000 after buying an additional 836 shares during the last quarter. SG Americas Securities LLC acquired a new position in Malibu Boats during the 2nd quarter worth $139,000. Assenagon Asset Management S.A. acquired a new position in Malibu Boats during the 2nd quarter worth $3,667,000. Bank of New York Mellon Corp increased its position in shares of Malibu Boats by 8.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 103,596 shares of the company’s stock worth $3,630,000 after purchasing an additional 8,422 shares during the last quarter. Finally, Legato Capital Management LLC raised its stake in shares of Malibu Boats by 32.9% in the 2nd quarter. Legato Capital Management LLC now owns 21,366 shares of the company’s stock valued at $749,000 after purchasing an additional 5,291 shares in the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Stock Down 0.1 %

Shares of NASDAQ MBUU opened at $44.23 on Friday. The stock has a market capitalization of $872.22 million, a PE ratio of -11.11 and a beta of 1.30. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average of $42.28 and a 200-day moving average of $38.32. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $56.03.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. The firm had revenue of $171.60 million during the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The firm’s quarterly revenue was down 32.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.07 earnings per share. On average, analysts anticipate that Malibu Boats will post 2.01 EPS for the current year.

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.