B. Riley Trims Malibu Boats (NASDAQ:MBUU) Target Price to $39.00

Malibu Boats (NASDAQ:MBUU) had its target price lowered by B. Riley from $45.00 to $39.00 in a research note published on Tuesday morning, Benzinga reports. B. Riley currently has a neutral rating on the stock.

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

Malibu Boats Stock Up 0.6 %

Shares of MBUU opened at $34.16 on Tuesday. The firm has a market capitalization of $697.89 million, a price-to-earnings ratio of 10.95 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82. The business’s fifty day moving average price is $42.41 and its two-hundred day moving average price is $46.45. Malibu Boats has a 52 week low of $33.78 and a 52 week high of $62.36.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $211.07 million for the quarter, compared to analyst estimates of $219.64 million. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The business’s quarterly revenue was down 37.7% compared to the same quarter last year. During the same period last year, the company earned $1.78 EPS. On average, analysts predict that Malibu Boats will post 2.55 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael K. Hooks bought 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 purchase, the insider now owns 12,500 shares in the company, valued at $535,250. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc acquired a new position in shares of Malibu Boats during the 3rd quarter worth about $25,000. Quarry LP acquired a new position in shares of Malibu Boats during the 2nd quarter worth about $25,000. Public Employees Retirement System of Ohio boosted its stake in shares of Malibu Boats by 44.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock worth $27,000 after buying an additional 173 shares during the last quarter. Comerica Bank acquired a new position in shares of Malibu Boats during the 3rd quarter worth about $27,000. Finally, Ensign Peak Advisors Inc acquired a new position in shares of Malibu Boats during the 3rd quarter worth about $29,000. 91.35% of the stock is owned by institutional investors and hedge funds.

About Malibu Boats

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.