Brokerages Set Malibu Boats, Inc. (NASDAQ:MBUU) PT at $81.57

Shares of Malibu Boats, Inc. (NASDAQ:MBUUGet Rating) have received an average recommendation of “Buy” from the eight research firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $81.57.

MBUU has been the subject of a number of recent research reports. Robert W. Baird cut their price objective on Malibu Boats from $80.00 to $70.00 in a research note on Wednesday, May 11th. B. Riley reduced their target price on Malibu Boats from $103.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday. StockNews.com raised Malibu Boats from a “hold” rating to a “buy” rating in a research report on Friday, June 17th. Finally, KeyCorp reduced their price objective on Malibu Boats from $94.00 to $80.00 in a research note on Thursday, May 12th.

MBUU stock opened at $53.52 on Tuesday. The firm has a 50 day moving average of $54.69 and a 200-day moving average of $60.60. The firm has a market capitalization of $1.10 billion, a P/E ratio of 7.87 and a beta of 1.60. The company has a current ratio of 1.23, a quick ratio of 0.50 and a debt-to-equity ratio of 0.10. Malibu Boats has a 12 month low of $48.31 and a 12 month high of $86.65.

Malibu Boats (NASDAQ:MBUUGet Rating) last issued its earnings results on Tuesday, May 10th. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $1.88 by $0.67. Malibu Boats had a net margin of 12.60% and a return on equity of 36.30%. The company had revenue of $344.30 million for the quarter, compared to the consensus estimate of $304.49 million. During the same period in the previous year, the firm earned $1.75 earnings per share. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. Sell-side analysts predict that Malibu Boats will post 7.56 EPS for the current year.

In other news, Director Peter E. Murphy acquired 700 shares of Malibu Boats stock in a transaction dated Wednesday, June 15th. The shares were bought at an average cost of $54.00 per share, with a total value of $37,800.00. Following the purchase, the director now owns 26,780 shares in the company, valued at approximately $1,446,120. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.73% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of Malibu Boats by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 24,135 shares of the company’s stock valued at $1,659,000 after acquiring an additional 572 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Malibu Boats by 4.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,370 shares of the company’s stock worth $1,125,000 after purchasing an additional 630 shares during the last quarter. Clark Capital Management Group Inc. raised its position in Malibu Boats by 57.9% during the fourth quarter. Clark Capital Management Group Inc. now owns 53,871 shares of the company’s stock valued at $3,703,000 after acquiring an additional 19,758 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Malibu Boats by 4.3% in the fourth quarter. Russell Investments Group Ltd. now owns 42,207 shares of the company’s stock valued at $2,900,000 after buying an additional 1,741 shares in the last quarter. Finally, Koss Olinger Consulting LLC boosted its stake in shares of Malibu Boats by 34.8% in the fourth quarter. Koss Olinger Consulting LLC now owns 7,240 shares of the company’s stock worth $498,000 after acquiring an additional 1,870 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.

About Malibu Boats (Get Rating)

Malibu Boats, Inc engages in the design, engineering, manufacturing, marketing, and sale of a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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