Malibu Boats (NASDAQ:MBUU) Price Target Cut to $89.00

Malibu Boats (NASDAQ:MBUUGet 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.

Malibu Boats (NASDAQ:MBUUGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.67. Malibu Boats had a net margin of 12.60% and a return on equity of 36.30%. The firm had revenue of $344.30 million during the quarter, compared to the consensus estimate of $304.49 million. During the same period last year, the firm posted $1.75 EPS. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, research analysts expect that Malibu Boats will post 7.56 earnings per share for the current year.

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.

Featured Stories

The Fly logo

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

Receive News & Ratings for Malibu Boats Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Malibu Boats and related companies with MarketBeat.com's FREE daily email newsletter.