Malibu Boats (NASDAQ:MBUU) Price Target Cut to $39.00

Malibu Boats (NASDAQ:MBUU) had its price target decreased by investment analysts at B. Riley from $45.00 to $39.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. B. Riley’s price target suggests a potential upside of 10.98% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Robert W. Baird reiterated an “outperform” rating and set a $54.00 price objective on shares of Malibu Boats in a research note on Friday, January 19th. Raymond James cut Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday. KeyCorp reduced their target price on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Truist Financial reduced their target price on Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.00.

Malibu Boats Price Performance

MBUU traded down $1.00 on Tuesday, reaching $35.14. The stock had a trading volume of 143,786 shares, compared to its average volume of 249,975. Malibu Boats has a fifty-two week low of $35.06 and a fifty-two week high of $62.36. The firm has a 50-day moving average of $42.83 and a 200-day moving average of $46.64. The company has a current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $717.91 million, a price-to-earnings ratio of 11.29 and a beta of 1.37.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The business had revenue of $211.07 million during the quarter, compared to analysts’ expectations of $219.64 million. During the same quarter last year, the firm posted $1.78 earnings per share. The firm’s revenue was down 37.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Malibu Boats will post 2.57 EPS for the current year.

Insider Activity at Malibu Boats

In related news, insider Michael K. Hooks acquired 12,500 shares of Malibu Boats stock in a transaction that occurred on Thursday, February 22nd. The stock was bought at an average price of $42.82 per share, with a total value of $535,250.00. Following the transaction, the insider now directly owns 12,500 shares in the company, valued at $535,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.62% of the stock is owned by corporate insiders.

Institutional Trading of Malibu Boats

Several institutional investors have recently added to or reduced their stakes in MBUU. Advisor Group Holdings Inc. boosted its stake in shares of Malibu Boats by 18.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 6,320 shares of the company’s stock worth $393,000 after buying an additional 970 shares during the last quarter. Raymond James & Associates raised its holdings in Malibu Boats by 95.1% during the first quarter. Raymond James & Associates now owns 6,799 shares of the company’s stock valued at $394,000 after acquiring an additional 3,314 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Malibu Boats by 4.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 17,077 shares of the company’s stock valued at $991,000 after acquiring an additional 707 shares during the period. Bank of New York Mellon Corp raised its holdings in Malibu Boats by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 84,701 shares of the company’s stock valued at $4,914,000 after acquiring an additional 1,461 shares during the period. Finally, Bank of Montreal Can raised its holdings in Malibu Boats by 8.6% during the first quarter. Bank of Montreal Can now owns 3,766 shares of the company’s stock valued at $239,000 after acquiring an additional 298 shares during the period. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

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.