Malibu Boats Inc. (NASDAQ:MBUU) was up 3.6% on Wednesday . The stock traded as high as $13.46 and last traded at $13.42, with a volume of 53,569 shares traded. The stock had previously closed at $12.95.

Several equities research analysts have weighed in on MBUU shares. Wells Fargo & Co. reiterated a “buy” rating on shares of Malibu Boats in a report on Thursday, August 18th. B. Riley reiterated a “buy” rating and issued a $22.00 price objective on shares of Malibu Boats in a report on Tuesday, May 10th. Wunderlich lowered their target price 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. Zacks Investment Research upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Finally, BMO Capital Markets cut Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Malibu Boats presently has a consensus rating of “Buy” and a consensus target price of $22.50.

The stock has a market capitalization of $239.94 million and a P/E ratio of 11.75. The company’s 50-day moving average price is $13.17 and its 200-day moving average price is $14.29.

An institutional investor recently raised its position in Malibu Boats stock. Victory Capital Management Inc. boosted its position in Malibu Boats Inc. (NASDAQ:MBUU) by 15.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 about 0.36% of Malibu Boats worth $1,061,000 at the end of the most recent reporting period.

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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