B. Riley Lowers Malibu Boats (NASDAQ:MBUU) Price Target to $39.00

Malibu Boats (NASDAQ:MBUU) had its price objective cut by B. Riley from $45.00 to $39.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also issued reports on MBUU. KeyCorp reduced their target price on shares of Malibu Boats from $58.00 to $50.00 and set an overweight rating for the company in a research note on Wednesday, January 31st. Raymond James lowered shares of Malibu Boats from an outperform rating to a market perform rating in a research note on Monday, April 15th. StockNews.com raised shares of Malibu Boats from a sell rating to a hold rating in a research note on Monday, February 26th. Truist Financial reduced their target price on shares of Malibu Boats from $62.00 to $52.00 and set a buy rating for the company in a research note on Wednesday, January 31st. Finally, Robert W. Baird reissued an outperform rating and set a $54.00 target price on shares of Malibu Boats in a research note on Friday, January 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $49.00.

Malibu Boats Price Performance

Shares of NASDAQ:MBUU opened at $34.48 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 1.82 and a debt-to-equity ratio of 0.06. Malibu Boats has a fifty-two week low of $33.78 and a fifty-two week high of $62.36. The firm has a 50-day simple moving average of $42.16 and a 200 day simple moving average of $46.36. The company has a market cap of $704.46 million, a PE ratio of 11.05 and a beta of 1.37.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $211.07 million during 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%. Malibu Boats’s revenue was down 37.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 EPS. On average, sell-side analysts anticipate that Malibu Boats will post 2.55 EPS for the current year.

Insider Transactions at Malibu Boats

In related news, insider Michael K. Hooks purchased 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, with a total value of $535,250.00. Following the purchase, the insider now owns 12,500 shares in the company, valued at approximately $535,250. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.62% of the company’s stock.

Institutional Trading of Malibu Boats

Several institutional investors and hedge funds have recently added to or reduced their stakes in MBUU. IFP Advisors Inc acquired a new stake in Malibu Boats during the third quarter valued at approximately $25,000. Quarry LP acquired a new stake in Malibu Boats during the second quarter valued at approximately $25,000. Public Employees Retirement System of Ohio lifted its stake in Malibu Boats by 44.7% during the third quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock valued at $27,000 after purchasing an additional 173 shares during the last quarter. Comerica Bank acquired a new stake in Malibu Boats during the third quarter valued at approximately $27,000. Finally, Ensign Peak Advisors Inc acquired a new stake in Malibu Boats during the third quarter valued at approximately $29,000. 91.35% of the stock is owned by institutional investors and hedge funds.

About Malibu Boats

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.