Malibu Boats (NASDAQ:MBUU) Price Target Raised to $50.00

Malibu Boats (NASDAQ:MBUU) had its price objective boosted by Robert W. Baird from $40.00 to $50.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently weighed in on MBUU. B. Riley lowered their price target on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. DA Davidson cut shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Friday. Finally, Truist Financial reissued a “hold” rating and issued a $32.00 price objective on shares of Malibu Boats in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.57.

Malibu Boats Stock Down 2.1 %

MBUU stock opened at $43.93 on Friday. The company has a market cap of $879.04 million, a price-to-earnings ratio of -11.04 and a beta of 1.36. Malibu Boats has a twelve month low of $30.20 and a twelve month high of $56.03. The business has a 50 day moving average price of $39.14 and a two-hundred day moving average price of $36.69.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.16. The business had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.33%. The firm’s revenue for the quarter was down 32.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.07 earnings per share. On average, equities research analysts anticipate that Malibu Boats will post 1.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Institutional investors have recently modified their holdings of the business. Pzena Investment Management LLC bought a new position in Malibu Boats during the second quarter worth about $51,800,000. The Manufacturers Life Insurance Company increased its holdings in shares of Malibu Boats by 94.4% during the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after purchasing an additional 409,574 shares during the period. Lord Abbett & CO. LLC raised its position in shares of Malibu Boats by 231.4% in the first quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock valued at $13,535,000 after buying an additional 218,378 shares in the last quarter. Lodge Hill Capital LLC bought a new stake in shares of Malibu Boats in the second quarter valued at approximately $4,866,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Malibu Boats by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock valued at $39,661,000 after buying an additional 111,699 shares during the period. Institutional investors own 91.35% of the company’s stock.

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.