Malibu Boats (NASDAQ:MBUU) Price Target Raised to $50.00 at Robert W. Baird

by · The Cerbat Gem

Malibu Boats (NASDAQ:MBUU – Free Report) had its price target increased by Robert W. Baird from $40.00 to $50.00 in a report published on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the company. DA Davidson cut 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. StockNews.com cut Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Truist Financial reaffirmed a “hold” rating and set a $32.00 price target on shares of Malibu Boats in a research note on Monday, July 8th. Finally, B. Riley reduced their price objective on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.57.

Check Out Our Latest Stock Analysis on Malibu Boats

Malibu Boats Trading Down 2.1 %

Shares of Malibu Boats stock traded down $0.95 on Friday, hitting $43.93. The stock had a trading volume of 392,848 shares, compared to its average volume of 255,583. The stock has a market cap of $879.04 million, a price-to-earnings ratio of -15.97 and a beta of 1.38. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $56.03. The company’s 50 day moving average price is $39.14 and its 200 day moving average price is $36.66.

Malibu Boats (NASDAQ:MBUU – Get Free Report) last announced its earnings results on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The business had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $157.54 million. During the same period in the previous year, the company posted $2.96 earnings per share. Malibu Boats’s quarterly revenue was down 57.4% on a year-over-year basis. Analysts predict that Malibu Boats will post 1.98 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

Several institutional investors and hedge funds have recently modified their holdings of MBUU. Principal Financial Group Inc. raised its position in shares of Malibu Boats by 4.7% during the 2nd quarter. Principal Financial Group Inc. now owns 9,728 shares of the company’s stock worth $341,000 after purchasing an additional 435 shares during the last quarter. Studio Investment Management LLC lifted its position in shares of Malibu Boats by 264.4% in the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after acquiring an additional 513 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Malibu Boats by 9.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock valued at $439,000 after acquiring an additional 836 shares during the last quarter. Bank of Montreal Can increased its position in Malibu Boats by 10.4% during the 2nd quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock worth $442,000 after purchasing an additional 1,170 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Malibu Boats by 31.6% in the 3rd quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock valued at $202,000 after purchasing an additional 1,252 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

About Malibu Boats

(Get Free Report)

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.

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