Malibu Boats Inc. (NASDAQ:MBUU) shares fell 3.6% during trading on Wednesday . The company traded as low as $13.27 and last traded at $13.36, with a volume of 61,174 shares trading hands. The stock had previously closed at $13.86.

A number of research firms recently commented on MBUU. B. Riley reaffirmed a “buy” rating and issued a $22.00 price target on shares of Malibu Boats in a research note on Tuesday, May 10th. Zacks Investment Research raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th. BMO Capital Markets downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 10th. Finally, Wunderlich dropped their price target on Malibu Boats from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, May 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.00.

The firm has a market cap of $239.04 million and a PE ratio of 11.70. The stock’s 50-day moving average price is $13.25 and its 200-day moving average price is $14.55.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The business earned $68.50 million during the quarter, compared to the consensus estimate of $70.06 million. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that Malibu Boats Inc. will post $1.30 EPS for the current year.

An institutional investor recently raised its position in Malibu Boats stock. Victory Capital Management Inc. boosted its stake in Malibu Boats Inc. (NASDAQ:MBUU) by 15.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,821 shares of the company’s stock after buying an additional 8,900 shares during the period. Victory Capital Management Inc. owned approximately 0.36% of Malibu Boats worth $1,061,000 as of its most recent filing with the SEC.

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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