Analysts Set Malibu Boats, Inc. (NASDAQ:MBUU) Target Price at $42.71

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have been assigned a consensus rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $42.71.

MBUU has been the topic of several recent research reports. StockNews.com raised shares of Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. Robert W. Baird upped their price target on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 1st. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Friday, November 1st. KeyCorp cut their price objective on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Benchmark reissued a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research report on Friday, November 1st.

Malibu Boats Stock Down 2.9 %

MBUU stock opened at $38.36 on Friday. The company has a market cap of $756.46 million, a P/E ratio of -9.64 and a beta of 1.32. Malibu Boats has a 52 week low of $30.20 and a 52 week high of $51.21. The company’s 50-day moving average price is $39.20 and its 200 day moving average price is $38.78. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.16. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The company had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was down 32.9% compared to the same quarter last year. On average, research analysts expect that Malibu Boats will post 2.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC increased its position in Malibu Boats by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock worth $300,000 after purchasing an additional 311 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Malibu Boats by 11.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after acquiring an additional 368 shares during the period. Studio Investment Management LLC raised its stake in shares of Malibu Boats by 53.7% in the 3rd quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after acquiring an additional 380 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of Malibu Boats in the 4th quarter valued at $38,000. Finally, Bank of Montreal Can grew its holdings in Malibu Boats by 10.4% during the 2nd quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock valued at $442,000 after purchasing an additional 1,170 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.