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

Malibu Boats, Inc. (NASDAQ:MBUU) has earned an average recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. Four 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.

Several research firms have recently issued reports on MBUU. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. Robert W. Baird raised their price objective on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial upped their target price on Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, November 1st. KeyCorp raised their price target on Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, DA Davidson cut Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Friday, November 1st.

Hedge Funds Weigh In On Malibu Boats

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Studio Investment Management LLC boosted its position in Malibu Boats by 264.4% during the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock worth $25,000 after acquiring an additional 513 shares during the last quarter. nVerses Capital LLC purchased a new position in Malibu Boats in the 3rd quarter worth approximately $74,000. Central Pacific Bank Trust Division boosted its holdings in shares of Malibu Boats by 11.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after purchasing an additional 368 shares during the last quarter. Benjamin Edwards Inc. grew its position in shares of Malibu Boats by 43.1% in the second quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock valued at $179,000 after purchasing an additional 1,539 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Malibu Boats by 31.6% in the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock valued at $202,000 after purchasing an additional 1,252 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Price Performance

MBUU stock opened at $37.29 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55. The company’s fifty day moving average price is $41.44 and its 200-day moving average price is $38.45. Malibu Boats has a one year low of $30.20 and a one year high of $54.31. The company has a market capitalization of $735.17 million, a PE ratio of -9.37 and a beta of 1.30.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. The company had revenue of $171.60 million during the quarter, compared to analyst estimates 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 revenue was down 32.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 earnings per share. On average, equities analysts anticipate that Malibu Boats will post 2.01 EPS 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.