Malibu Boats, Inc. (NASDAQ:MBUU) Receives $41.71 Consensus Price Target from Brokerages

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have received a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Four 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 objective among analysts that have updated their coverage on the stock in the last year is $41.14.

A number of equities analysts have recently commented on the company. B. Riley cut their price target on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday. StockNews.com lowered Malibu Boats from a “hold” rating to a “sell” rating in a report on Tuesday. Raymond James cut Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. Truist Financial restated a “hold” rating and issued a $32.00 price objective on shares of Malibu Boats in a research report on Monday, July 8th. Finally, Benchmark began coverage on shares of Malibu Boats in a research note on Wednesday, May 22nd. They set a “buy” rating and a $44.00 price objective for the company.

Malibu Boats Price Performance

Shares of NASDAQ:MBUU opened at $33.87 on Wednesday. The firm has a market capitalization of $692.30 million, a PE ratio of -12.69 and a beta of 1.40. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $35.36 and a two-hundred day moving average price of $41.08. Malibu Boats has a twelve month low of $30.20 and a twelve month high of $60.72.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.40 by $0.14. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. The company had revenue of $203.42 million during the quarter, compared to the consensus estimate of $205.83 million. Equities analysts forecast that Malibu Boats will post 1.82 EPS for the current year.

Insider Activity at Malibu Boats

In related news, Director Mark W. Lanigan bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $33.43 per share, for a total transaction of $668,600.00. Following the completion of the transaction, the director now owns 73,368 shares of the company’s stock, valued at $2,452,692.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.62% of the stock is currently owned by insiders.

Institutional Trading of Malibu Boats

A number of hedge funds have recently bought and sold shares of MBUU. International Assets Investment Management LLC bought a new position in Malibu Boats during the fourth quarter valued at approximately $48,000. EntryPoint Capital LLC bought a new stake in shares of Malibu Boats in the 1st quarter worth approximately $84,000. Benjamin Edwards Inc. boosted its stake in shares of Malibu Boats by 13.8% in the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after purchasing an additional 318 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Malibu Boats during the 1st quarter valued at $142,000. Finally, SG Americas Securities LLC purchased a new position in Malibu Boats in the 2nd quarter worth $139,000. 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.