Brokerages Set Malibu Boats, Inc. (NASDAQ:MBUU) Price Target at $42.71

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have received a consensus recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $42.71.

Several brokerages recently commented on MBUU. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. Benchmark restated a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research note on Friday, November 1st. Robert W. Baird lifted their price objective on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial dropped their price objective on shares of Malibu Boats from $42.00 to $34.00 and set a “hold” rating on the stock in a research note on Tuesday, January 7th. Finally, KeyCorp dropped their price objective on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th.

Malibu Boats Price Performance

Shares of NASDAQ:MBUU opened at $38.36 on Friday. The company’s fifty day moving average price is $39.20 and its 200 day moving average price is $38.78. Malibu Boats has a 12 month low of $30.20 and a 12 month high of $51.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.52. The firm has a market capitalization of $756.46 million, a P/E ratio of -9.64 and a beta of 1.32.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.16. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The firm had revenue of $171.60 million for the quarter, compared to analyst estimates of $165.33 million. During the same period last year, the business earned $1.07 EPS. Malibu Boats’s revenue for the quarter was down 32.9% compared to the same quarter last year. As a group, sell-side analysts predict that Malibu Boats will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of Malibu Boats

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its holdings in shares of Malibu Boats by 4.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock valued at $300,000 after acquiring an additional 311 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Malibu Boats by 11.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after acquiring an additional 368 shares in the last quarter. Studio Investment Management LLC boosted its holdings in Malibu Boats by 53.7% during the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock worth $42,000 after buying an additional 380 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Malibu Boats during the fourth quarter worth about $38,000. Finally, Bank of Montreal Can boosted its holdings in Malibu Boats by 10.4% during the second quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock worth $442,000 after buying an additional 1,170 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.