Malibu Boats (NASDAQ:MBUU) Research Coverage Started at Benchmark

Benchmark assumed coverage on shares of Malibu Boats (NASDAQ:MBUU) in a report released on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $44.00 price target on the stock.

Several other brokerages also recently issued reports on MBUU. StockNews.com upgraded Malibu Boats from a sell rating to a hold rating in a report on Wednesday. Robert W. Baird lowered their target price on Malibu Boats from $50.00 to $40.00 and set an outperform rating for the company in a research note on Friday, May 3rd. B. Riley reduced their price target on Malibu Boats from $45.00 to $39.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. Raymond James downgraded shares of Malibu Boats from an outperform rating to a market perform rating in a research report on Monday, April 15th. Finally, Truist Financial reduced their target price on shares of Malibu Boats from $52.00 to $42.00 and set a buy rating on the stock in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $43.14.

Malibu Boats Stock Up 1.9 %

Shares of NASDAQ:MBUU opened at $36.10 on Wednesday. The stock has a 50-day simple moving average of $37.49 and a 200-day simple moving average of $43.97. The stock has a market capitalization of $737.88 million, a P/E ratio of -13.52 and a beta of 1.41. Malibu Boats has a 1 year low of $31.47 and a 1 year high of $62.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.14. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. The company had revenue of $203.42 million during the quarter, compared to the consensus estimate of $205.83 million. Equities analysts forecast that Malibu Boats will post 1.84 earnings per share for the current year.

Insider Transactions at Malibu Boats

In other news, Director Mark W. Lanigan purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $33.43 per share, for a total transaction of $668,600.00. Following the completion of the purchase, the director now owns 73,368 shares of the company’s stock, valued at $2,452,692.24. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.62% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of Malibu Boats during the fourth quarter worth $48,000. EntryPoint Capital LLC acquired a new stake in Malibu Boats in the first quarter worth $84,000. Central Pacific Bank Trust Division bought a new stake in Malibu Boats in the first quarter valued at $142,000. Benjamin Edwards Inc. boosted its holdings in shares of Malibu Boats by 13.8% during the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after acquiring an additional 318 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Malibu Boats by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock worth $194,000 after acquiring an additional 386 shares during the last quarter. 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.