Shares of Malibu Boats Inc. (NASDAQ:MBUU) saw an uptick in trading volume on Tuesday . 90,994 shares traded hands during mid-day trading, a decline of 26% from the previous session’s volume of 123,465 shares.The stock last traded at $12.44 and had previously closed at $12.37.

Several research firms have issued reports on MBUU. BMO Capital Markets lowered Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 10th. B. Riley restated a “buy” rating and issued a $22.00 price objective on shares of Malibu Boats in a research note on Tuesday, May 10th. Wunderlich decreased their target price on Malibu Boats from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, May 4th. Finally, Zacks Investment Research raised Malibu Boats from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $23.00.

The stock has a market cap of $224.35 million and a P/E ratio of 10.98. The company’s 50-day moving average is $13.25 and its 200-day moving average is $14.64.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Wednesday, May 4th. The company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The firm earned $68.50 million during the quarter, compared to analyst estimates of $70.06 million. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, analysts expect that Malibu Boats Inc. will post $1.30 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of MBUU. Victory Capital Management Inc. increased its stake in shares of Malibu Boats by 15.9% in the fourth quarter. Victory Capital Management Inc. now owns 64,821 shares of the company’s stock valued at $1,061,000 after buying an additional 8,900 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Malibu Boats by 20.9% in the fourth quarter. Wells Fargo & Company MN now owns 669,294 shares of the company’s stock valued at $10,956,000 after buying an additional 115,823 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Malibu Boats by 37.5% in the fourth quarter. American Century Companies Inc. now owns 724,380 shares of the company’s stock valued at $11,858,000 after buying an additional 197,502 shares in the last quarter.

Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s boats are used for water sports, including water skiing, wakeboarding and wake surfing, as well as general recreational boating. The Company sells its boats under two brands: Malibu and Axis. Its flagship Malibu brand boats are designed for consumers seeking a premium boating experience.

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