BMO Capital Markets upgraded shares of Malibu Boats (NASDAQ:MBUU) from a market perform rating to an outperform rating in a report published on Wednesday morning, Anlyst Ratings reports. They currently have $86.00 price target on the stock, up from their prior price target of $56.00.
Other research analysts also recently issued reports about the company. B. Riley boosted their price objective on Malibu Boats from $80.00 to $85.00 and gave the company a buy rating in a research note on Tuesday. They noted that the move was a valuation call. Truist boosted their target price on Malibu Boats from $68.00 to $75.00 in a research report on Wednesday, January 6th. Robert W. Baird raised Malibu Boats from a neutral rating to an outperform rating and set a $64.00 price objective for the company in a report on Tuesday, September 22nd. Finally, Raymond James boosted their target price on Malibu Boats from $65.00 to $68.00 and gave the stock an outperform rating in a research note on Monday, January 4th. Nine analysts have rated the stock with a buy rating, Malibu Boats presently has an average rating of Buy and an average price target of $69.00.
Shares of NASDAQ:MBUU traded down $0.76 during mid-day trading on Wednesday, reaching $72.82. 7,310 shares of the stock were exchanged, compared to its average volume of 272,912. The company has a quick ratio of 0.92, a current ratio of 1.74 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.51 billion, a P/E ratio of 22.99 and a beta of 1.92. Malibu Boats has a one year low of $18.02 and a one year high of $81.81. The stock’s 50 day simple moving average is $62.55 and its 200-day simple moving average is $56.35.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Malibu Boats by 4.5% in the second quarter. Vanguard Group Inc. now owns 1,130,146 shares of the company’s stock valued at $58,711,000 after acquiring an additional 48,236 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Malibu Boats by 16.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 643,983 shares of the company’s stock valued at $31,916,000 after acquiring an additional 90,130 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Malibu Boats in the third quarter valued at $7,969,000. Bank of New York Mellon Corp increased its stake in Malibu Boats by 6.8% in the second quarter. Bank of New York Mellon Corp now owns 108,544 shares of the company’s stock valued at $5,639,000 after acquiring an additional 6,930 shares during the last quarter. Finally, RK Capital Management LLC increased its stake in Malibu Boats by 44.9% in the third quarter. RK Capital Management LLC now owns 106,800 shares of the company’s stock valued at $5,293,000 after acquiring an additional 33,100 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
Malibu Boats Company Profile
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Cobalt, and Pursuit. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Cobalt, and Pursuit brands.
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