Malibu Boats, Inc. (NASDAQ:MBUU) Receives $38.17 Average Price Target from Analysts

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) has been given a consensus rating of "Hold" by the seven brokerages that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $38.17.

A number of research analysts recently commented on MBUU shares. Truist Financial decreased their price target on shares of Malibu Boats from $38.00 to $28.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Robert W. Baird restated a "neutral" rating and set a $32.00 target price (down previously from $50.00) on shares of Malibu Boats in a research report on Friday, April 4th. KeyCorp lowered shares of Malibu Boats from an "overweight" rating to a "sector weight" rating in a research report on Thursday, March 20th. Benchmark restated a "buy" rating and set a $44.00 target price on shares of Malibu Boats in a research report on Tuesday, February 4th. Finally, B. Riley upgraded shares of Malibu Boats to a "hold" rating in a research report on Wednesday, February 12th.

Malibu Boats Stock Performance

MBUU traded down $1.40 on Tuesday, reaching $29.37. The company had a trading volume of 208,530 shares, compared to its average volume of 214,375. Malibu Boats has a fifty-two week low of $24.43 and a fifty-two week high of $47.82. The stock has a market cap of $576.68 million, a P/E ratio of -6.75 and a beta of 1.23. The company's fifty day moving average is $29.21 and its 200 day moving average is $35.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.06. Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. The business had revenue of $228.66 million for the quarter, compared to analyst estimates of $226.44 million. During the same quarter in the prior year, the business earned $0.63 EPS. Malibu Boats's quarterly revenue was up 12.4% on a year-over-year basis. As a group, analysts predict that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Institutional Trading of Malibu Boats

Several large investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in shares of Malibu Boats by 4.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company's stock worth $300,000 after acquiring an additional 311 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Malibu Boats by 0.7% during the 4th quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company's stock worth $4,627,000 after acquiring an additional 815 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Malibu Boats during the 4th quarter worth approximately $38,000. Price T Rowe Associates Inc. MD boosted its position in shares of Malibu Boats by 10.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,111 shares of the company's stock worth $456,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Malibu Boats by 2.4% during the 4th quarter. Invesco Ltd. now owns 49,005 shares of the company's stock worth $1,842,000 after acquiring an additional 1,141 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company's stock.

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.