Robert W. Baird Reiterates Neutral Rating for Malibu Boats (NASDAQ:MBUU)

Robert W. Baird reaffirmed their neutral rating on shares of Malibu Boats (NASDAQ:MBUU) in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage currently has a $32.00 target price on the stock, down from their previous target price of $50.00.

MBUU has been the topic of a number of other research reports. Truist Financial raised their target price on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a report on Friday, January 31st. B. Riley raised shares of Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research note on Tuesday, February 4th. KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research report on Thursday, March 20th. Finally, StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Malibu Boats has a consensus rating of “Hold” and a consensus target price of $39.83.

Malibu Boats Price Performance

Shares of Malibu Boats stock opened at $28.51 on Friday. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $33.71 and a 200-day simple moving average of $37.89. The stock has a market capitalization of $559.79 million, a price-to-earnings ratio of -6.55 and a beta of 1.42. Malibu Boats has a 1-year low of $25.93 and a 1-year high of $47.82.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. On average, sell-side analysts expect that Malibu Boats will post 1.69 earnings per share for the current year.

Institutional Trading of Malibu Boats

Several institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in Malibu Boats by 3.8% during the fourth quarter. Wellington Management Group LLP now owns 1,533,605 shares of the company’s stock worth $57,648,000 after purchasing an additional 56,629 shares during the period. Heck Capital Advisors LLC acquired a new stake in Malibu Boats in the 4th quarter valued at $38,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Malibu Boats by 17.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 52,636 shares of the company’s stock valued at $1,979,000 after acquiring an additional 7,925 shares during the period. Tybourne Capital Management HK Ltd. bought a new stake in Malibu Boats in the fourth quarter valued at $3,006,000. Finally, ProShare Advisors LLC acquired a new position in Malibu Boats during the fourth quarter worth $207,000. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.