Malibu Boats, Inc. (NASDAQ:MBUU) Receives $49.00 Average Target Price from Analysts

Malibu Boats, Inc. (NASDAQ:MBUU) has been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $49.00.

A number of research analysts have commented on MBUU shares. Truist Financial decreased their price target on Malibu Boats from $62.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. KeyCorp cut their price objective on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Robert W. Baird reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Malibu Boats in a research report on Friday, January 19th. Raymond James lowered Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. Finally, StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a research report on Monday, February 26th.

Malibu Boats Stock Down 3.8 %

NASDAQ:MBUU opened at $31.79 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.82 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average is $39.63 and its two-hundred day moving average is $45.31. Malibu Boats has a 52 week low of $31.47 and a 52 week high of $62.36. The stock has a market capitalization of $649.47 million, a price-to-earnings ratio of 10.19 and a beta of 1.41.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The company had revenue of $211.07 million for the quarter, compared to analysts’ expectations of $219.64 million. During the same period in the prior year, the firm earned $1.78 earnings per share. The firm’s revenue was down 37.7% compared to the same quarter last year. Research analysts anticipate that Malibu Boats will post 2.55 EPS for the current year.

Insider Activity at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks bought 12,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were purchased at an average price of $42.82 per share, with a total value of $535,250.00. Following the completion of the acquisition, the insider now directly owns 12,500 shares of the company’s stock, valued at approximately $535,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Malibu Boats

Several large investors have recently bought and sold shares of the business. Hohimer Wealth Management LLC increased its holdings in Malibu Boats by 3.0% in the fourth quarter. Hohimer Wealth Management LLC now owns 10,438 shares of the company’s stock valued at $572,000 after buying an additional 301 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Malibu Boats by 13.8% during the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after purchasing an additional 318 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Malibu Boats by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock worth $194,000 after purchasing an additional 386 shares during the last quarter. IFP Advisors Inc purchased a new position in shares of Malibu Boats during the third quarter worth about $25,000. Finally, Howe & Rusling Inc. grew its holdings in shares of Malibu Boats by 14.7% during the third quarter. Howe & Rusling Inc. now owns 4,427 shares of the company’s stock worth $217,000 after purchasing an additional 569 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.