Brokerages Set Malibu Boats, Inc. (NASDAQ:MBUU) Price Target at $78.00


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Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have been assigned an average recommendation of “Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $80.43.

Several analysts recently weighed in on the stock. Raymond James lifted their price objective on shares of Malibu Boats from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, March 29th. Zacks Investment Research downgraded shares of Malibu Boats from a “buy” rating to a “hold” rating in a research report on Wednesday, April 14th. B. Riley lifted their price objective on shares of Malibu Boats from $85.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, February 10th. BMO Capital Markets lifted their price objective on shares of Malibu Boats from $86.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, February 10th. Finally, Truist raised their target price on shares of Malibu Boats from $75.00 to $82.00 in a research note on Wednesday, January 27th.

In other news, COO Ritchie L. Anderson sold 7,500 shares of Malibu Boats stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $79.08, for a total value of $593,100.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jackie D. Jr. Springer sold 17,341 shares of Malibu Boats stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $77.03, for a total transaction of $1,335,777.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,100 shares of company stock worth $5,209,415. 1.74% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Royce & Associates LP grew its stake in shares of Malibu Boats by 39.5% in the 4th quarter. Royce & Associates LP now owns 132,454 shares of the company’s stock worth $8,270,000 after purchasing an additional 37,538 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Malibu Boats in the fourth quarter worth about $200,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Malibu Boats in the fourth quarter worth about $427,000. Epoch Investment Partners Inc. acquired a new position in shares of Malibu Boats in the fourth quarter worth about $4,490,000. Finally, Voloridge Investment Management LLC boosted its holdings in shares of Malibu Boats by 47.4% in the third quarter. Voloridge Investment Management LLC now owns 64,172 shares of the company’s stock worth $3,180,000 after buying an additional 20,637 shares during the period. 97.47% of the stock is currently owned by institutional investors.

Shares of Malibu Boats stock traded down $0.59 during trading hours on Monday, reaching $83.65. The company’s stock had a trading volume of 184,089 shares, compared to its average volume of 216,601. The company’s 50 day simple moving average is $83.07 and its 200 day simple moving average is $68.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.92 and a current ratio of 1.74. Malibu Boats has a one year low of $24.51 and a one year high of $93.00. The stock has a market cap of $1.74 billion, a P/E ratio of 26.14 and a beta of 1.94.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Monday, February 8th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.19. The firm had revenue of $195.65 million for the quarter, compared to the consensus estimate of $189.80 million. Malibu Boats had a net margin of 10.09% and a return on equity of 28.93%. Malibu Boats’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.93 EPS. On average, sell-side analysts predict that Malibu Boats will post 5.05 earnings per share for the current fiscal year.

Malibu Boats Company Profile

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Cobalt, and Pursuit. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Cobalt, and Pursuit brands.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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