Analysts Set Malibu Boats, Inc. (NASDAQ:MBUU) Price Target at $42.83

Malibu Boats, Inc. (NASDAQ:MBUU) has been assigned an average recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $42.83.

A number of research firms have recently weighed in on MBUU. Robert W. Baird upped their price objective on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research note on Tuesday, February 4th. Truist Financial boosted their target price on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Friday, November 1st. Finally, StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research report on Friday, February 14th.

Institutional Investors Weigh In On Malibu Boats

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC raised its position in Malibu Boats by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock valued at $300,000 after purchasing an additional 311 shares during the period. Central Pacific Bank Trust Division raised its position in Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after purchasing an additional 368 shares during the period. Studio Investment Management LLC raised its position in Malibu Boats by 53.7% during the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after purchasing an additional 380 shares during the period. Ameriprise Financial Inc. raised its position in Malibu Boats by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company’s stock valued at $4,627,000 after purchasing an additional 815 shares during the period. Finally, Heck Capital Advisors LLC purchased a new stake in Malibu Boats during the fourth quarter valued at approximately $38,000. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Stock Performance

NASDAQ MBUU opened at $34.51 on Thursday. The firm has a market cap of $677.78 million, a price-to-earnings ratio of -7.93 and a beta of 1.33. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $36.97 and a 200-day moving average price of $38.79. Malibu Boats has a twelve month low of $30.20 and a twelve month high of $47.82.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts predict that Malibu Boats will post 1.69 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.