Malibu Boats (NASDAQ:MBUU) Price Target Cut to $39.00

Malibu Boats (NASDAQ:MBUU) had its target price cut by B. Riley from $45.00 to $39.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley’s price objective suggests a potential upside of 10.98% from the company’s current price.

A number of other equities research analysts also recently commented on MBUU. Robert W. Baird reissued an “outperform” rating and issued a $54.00 target price on shares of Malibu Boats in a report on Friday, January 19th. KeyCorp cut their price target on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Truist Financial cut their price target on Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Raymond James downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Monday. Finally, StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $49.00.

Malibu Boats Stock Down 2.8 %

Shares of MBUU stock traded down $1.00 during trading hours on Tuesday, reaching $35.14. 143,786 shares of the stock were exchanged, compared to its average volume of 249,975. The business’s fifty day moving average is $42.83 and its two-hundred day moving average is $46.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.82 and a quick ratio of 0.69. Malibu Boats has a 12-month low of $35.06 and a 12-month high of $62.36. The firm has a market capitalization of $717.91 million, a P/E ratio of 11.29 and a beta of 1.37.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. The company had revenue of $211.07 million for the quarter, compared to analyst estimates of $219.64 million. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The firm’s revenue was down 37.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 earnings per share. As a group, research analysts expect that Malibu Boats will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Malibu Boats news, insider Michael K. Hooks bought 12,500 shares of Malibu Boats stock in a transaction dated Thursday, February 22nd. The stock was bought at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the purchase, the insider now owns 12,500 shares in the company, valued at approximately $535,250. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in Malibu Boats by 315.0% during the fourth quarter. Wellington Management Group LLP now owns 64,741 shares of the company’s stock valued at $3,549,000 after buying an additional 49,141 shares in the last quarter. Cim LLC bought a new position in Malibu Boats during the fourth quarter valued at about $353,000. Price T Rowe Associates Inc. MD boosted its stake in Malibu Boats by 4.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,288 shares of the company’s stock valued at $510,000 after buying an additional 433 shares in the last quarter. Legal & General Group Plc boosted its stake in Malibu Boats by 2.5% during the fourth quarter. Legal & General Group Plc now owns 25,412 shares of the company’s stock valued at $1,393,000 after buying an additional 615 shares in the last quarter. Finally, Barclays PLC boosted its stake in Malibu Boats by 36.8% during the fourth quarter. Barclays PLC now owns 43,921 shares of the company’s stock valued at $2,408,000 after buying an additional 11,817 shares in the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Company Profile

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.