Malibu Boats (NASDAQ:MBUU) Earns Buy Rating from Benchmark

Malibu Boats (NASDAQ:MBUU)‘s stock had its “buy” rating reissued by research analysts at Benchmark in a research note issued on Tuesday,Benzinga reports. They currently have a $44.00 price objective on the stock. Benchmark’s price objective points to a potential upside of 14.49% from the stock’s previous close.

A number of other brokerages have also weighed in on MBUU. Robert W. Baird lifted their price objective on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 1st. DA Davidson cut shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research note on Friday, November 1st. KeyCorp lowered their target price on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Truist Financial lifted their target price on shares of Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Finally, StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.83.

Malibu Boats Stock Up 3.0 %

Shares of NASDAQ:MBUU opened at $38.43 on Tuesday. The firm has a fifty day moving average price of $38.61 and a 200 day moving average price of $38.79. Malibu Boats has a 1-year low of $30.20 and a 1-year high of $50.39. The stock has a market cap of $754.77 million, a P/E ratio of -8.83 and a beta of 1.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. Sell-side analysts predict that Malibu Boats will post 2.06 EPS for the current year.

Institutional Investors Weigh In On Malibu Boats

Large investors have recently made changes to their positions in the business. Pzena Investment Management LLC boosted its position in Malibu Boats by 5.2% during the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock worth $60,362,000 after purchasing an additional 77,015 shares during the period. Wellington Management Group LLP grew its position in Malibu Boats by 154.8% in the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock valued at $57,321,000 after acquiring an additional 897,387 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Malibu Boats by 8.2% during the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after purchasing an additional 43,769 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Malibu Boats by 370.5% during the fourth quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company’s stock worth $16,571,000 after purchasing an additional 347,144 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in Malibu Boats by 15.8% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 394,288 shares of the company’s stock valued at $14,821,000 after buying an additional 53,907 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.