Malibu Boats (NASDAQ:MBUU) Given New $50.00 Price Target at Robert W. Baird

Malibu Boats (NASDAQ:MBUU) had its price target lifted by Robert W. Baird from $40.00 to $50.00 in a research note published on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

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

Malibu Boats Stock Down 3.6 %

Shares of NASDAQ MBUU opened at $42.33 on Friday. The stock’s 50-day simple moving average is $39.26 and its two-hundred day simple moving average is $36.75. Malibu Boats has a twelve month low of $30.20 and a twelve month high of $56.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.16. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The company had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $165.33 million. During the same period in the prior year, the business earned $1.07 earnings per share. Malibu Boats’s revenue for the quarter was down 32.9% compared to the same quarter last year. On average, analysts predict that Malibu Boats will post 1.98 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MBUU. Studio Investment Management LLC increased its stake in shares of Malibu Boats by 264.4% during the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after buying an additional 513 shares during the period. nVerses Capital LLC bought a new position in Malibu Boats in the 3rd quarter worth $74,000. EntryPoint Capital LLC bought a new position in Malibu Boats in the 1st quarter worth $84,000. Central Pacific Bank Trust Division purchased a new stake in shares of Malibu Boats in the 1st quarter worth about $142,000. Finally, SG Americas Securities LLC bought a new stake in shares of Malibu Boats during the 2nd quarter valued at about $139,000. 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.