Malibu Boats (NASDAQ:MBUU) PT Lowered to $39.00

Malibu Boats (NASDAQ:MBUU) had its price objective cut by B. Riley from $45.00 to $39.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

MBUU has been the subject of several other research reports. Robert W. Baird restated an outperform rating and issued a $54.00 price target on shares of Malibu Boats in a research note on Friday, January 19th. Raymond James downgraded shares of Malibu Boats from an outperform rating to a market perform rating in a research note on Monday, April 15th. Truist Financial lowered their target price on shares of Malibu Boats from $62.00 to $52.00 and set a buy rating for the company in a research note on Wednesday, January 31st. KeyCorp lowered their target price on shares of Malibu Boats from $58.00 to $50.00 and set an overweight rating for the company in a research note on Wednesday, January 31st. Finally, StockNews.com upgraded shares of Malibu Boats from a sell rating to a hold rating in a research note on Monday, February 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $49.00.

Malibu Boats Stock Performance

NASDAQ:MBUU opened at $34.48 on Tuesday. The company has a fifty day simple moving average of $42.16 and a two-hundred day simple moving average of $46.36. The company has a market cap of $704.46 million, a price-to-earnings ratio of 11.05 and a beta of 1.37. The company has a quick ratio of 0.69, a current ratio of 1.82 and a debt-to-equity ratio of 0.06. Malibu Boats has a 52 week low of $33.78 and a 52 week high of $62.36.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly 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. The business had revenue of $211.07 million during the quarter, compared to the consensus estimate of $219.64 million. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The company’s quarterly revenue was down 37.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. As a group, equities analysts anticipate that Malibu Boats will post 2.55 earnings per share for the current fiscal year.

Insider Activity at Malibu Boats

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

Institutional Investors Weigh In On Malibu Boats

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cooke & Bieler LP raised its holdings in shares of Malibu Boats by 35.2% in the fourth quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock valued at $50,476,000 after buying an additional 239,707 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Malibu Boats in the second quarter valued at about $9,260,000. Invesco Ltd. raised its holdings in shares of Malibu Boats by 272.7% in the third quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock valued at $6,231,000 after buying an additional 93,004 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Malibu Boats by 29.3% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 318,826 shares of the company’s stock valued at $15,629,000 after buying an additional 72,330 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Malibu Boats by 57.8% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 196,943 shares of the company’s stock valued at $9,654,000 after buying an additional 72,120 shares during the last quarter. 91.35% of the stock is 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.