Malibu Boats Inc. (NASDAQ:MBUU) shot up 2.8% during mid-day trading on Friday . The company traded as high as $13.51 and last traded at $13.40, with a volume of 125,221 shares trading hands. The stock had previously closed at $13.04.

A number of research firms have recently issued reports on MBUU. Zacks Investment Research raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Wunderlich reduced their price target on shares of Malibu Boats from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, May 4th. B. Riley reissued a “buy” rating and issued a $22.00 price target on shares of Malibu Boats in a research note on Tuesday, May 10th. Finally, BMO Capital Markets downgraded shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Malibu Boats currently has an average rating of “Buy” and a consensus price target of $23.00.

The firm has a 50 day moving average of $13.21 and a 200 day moving average of $14.51. The firm has a market cap of $240.11 million and a PE ratio of 11.75.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40. During the same period in the previous year, the company posted $0.34 earnings per share. The business earned $68.50 million during the quarter, compared to analyst estimates of $70.06 million. Malibu Boats’s revenue was up 5.7% on a year-over-year basis. On average, analysts predict that Malibu Boats Inc. will post $1.30 earnings per share 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 13F filing with the SEC. The institutional investor owned 64,821 shares of the company’s stock after buying an additional 8,900 shares during the period. Victory Capital Management Inc. owned 0.36% of Malibu Boats worth $1,061,000 at the end of the most recent 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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