Shares of Malibu Boats Inc (NASDAQ:MBUU) were up 7.7% during mid-day trading on Tuesday . The stock traded as high as $25.13 and last traded at $24.88, approximately 196,338 shares traded hands during trading. A decline of 8% from the average daily volume of 212,984 shares. The stock had previously closed at $23.10.
Several research firms recently commented on MBUU. Berenberg Bank started coverage on shares of Malibu Boats in a research report on Wednesday, January 15th. They issued a “buy” rating and a $50.00 price objective on the stock. Wells Fargo & Co reissued a “buy” rating on shares of Malibu Boats in a research note on Friday, February 7th. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Thursday, February 13th. ValuEngine lowered Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, March 20th. Finally, Raymond James raised Malibu Boats from a “market perform” rating to an “outperform” rating and set a $56.00 price objective for the company in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $49.63.
The stock’s 50-day moving average price is $39.77 and its 200 day moving average price is $37.49. The firm has a market cap of $475.51 million, a P/E ratio of 7.59 and a beta of 1.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.55 and a quick ratio of 0.61.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Aigen Investment Management LP bought a new stake in Malibu Boats during the fourth quarter worth about $30,000. Great West Life Assurance Co. Can bought a new stake in shares of Malibu Boats during the 4th quarter worth approximately $50,000. Verus Capital Partners LLC acquired a new stake in shares of Malibu Boats in the 4th quarter valued at approximately $57,000. Acadian Asset Management LLC acquired a new stake in shares of Malibu Boats in the 4th quarter valued at approximately $73,000. Finally, Boston Partners bought a new position in shares of Malibu Boats in the fourth quarter valued at $98,000. Institutional investors own 98.49% of the company’s stock.
Malibu Boats Company Profile (NASDAQ:MBUU)
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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