Malibu Boats (NASDAQ:MBUU – Get Rating) had its price target decreased by investment analysts at B. Riley from $103.00 to $89.00 in a research note issued on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 68.94% from the company’s current price.
Several other research firms have also recently weighed in on MBUU. StockNews.com upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating in a research report on Friday, June 17th. Robert W. Baird lowered their price objective on shares of Malibu Boats from $80.00 to $70.00 in a research report on Wednesday, May 11th. Finally, KeyCorp lowered their price objective on shares of Malibu Boats from $94.00 to $80.00 in a research report on Thursday, May 12th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $81.57.
Shares of MBUU stock opened at $52.68 on Tuesday. Malibu Boats has a 12-month low of $48.31 and a 12-month high of $86.65. The company has a market capitalization of $1.08 billion, a P/E ratio of 7.75 and a beta of 1.60. The firm has a 50-day moving average price of $54.65 and a 200 day moving average price of $60.78. The company has a quick ratio of 0.50, a current ratio of 1.23 and a debt-to-equity ratio of 0.10.
In other news, Director Peter E. Murphy acquired 700 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The stock was purchased at an average price of $54.00 per share, for a total transaction of $37,800.00. Following the completion of the acquisition, the director now owns 26,780 shares in the company, valued at $1,446,120. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.73% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MBUU. Fort Washington Investment Advisors Inc. OH grew its holdings in Malibu Boats by 93.5% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 307,260 shares of the company’s stock valued at $21,118,000 after purchasing an additional 148,440 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Malibu Boats in the fourth quarter valued at approximately $7,638,000. Russell Investments Group Ltd. lifted its stake in Malibu Boats by 188.9% in the first quarter. Russell Investments Group Ltd. now owns 121,919 shares of the company’s stock valued at $7,071,000 after buying an additional 79,712 shares in the last quarter. American Century Companies Inc. lifted its stake in Malibu Boats by 5.1% in the first quarter. American Century Companies Inc. now owns 1,314,141 shares of the company’s stock valued at $76,233,000 after buying an additional 63,629 shares in the last quarter. Finally, Southernsun Asset Management LLC lifted its stake in Malibu Boats by 11.8% in the fourth quarter. Southernsun Asset Management LLC now owns 446,050 shares of the company’s stock valued at $30,657,000 after buying an additional 47,202 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.
Malibu Boats Company Profile (Get Rating)
Malibu Boats, Inc engages in the design, engineering, manufacturing, marketing, and sale of a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.
- Get a free copy of the StockNews.com research report on Malibu Boats (MBUU)
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