Malibu Boats, Inc. (NASDAQ:MBUU) Receives $90.13 Average Price Target from Analysts

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have been assigned an average rating of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $90.13.

MBUU has been the topic of a number of research reports. Zacks Investment Research cut Malibu Boats from a “buy” rating to a “hold” rating in a research report on Friday, January 7th. Truist Securities lowered their price objective on Malibu Boats from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, October 8th. Raymond James boosted their price objective on Malibu Boats from $87.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, November 5th. Truist lowered their price objective on Malibu Boats from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, October 8th. Finally, Wolfe Research initiated coverage on Malibu Boats in a research report on Thursday, September 30th. They issued an “outperform” rating and a $81.00 price target on the stock.

In other news, CEO Jackie D. Jr. Springer sold 15,000 shares of the stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $73.88, for a total transaction of $1,108,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.73% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of MBUU. Global Trust Asset Management LLC acquired a new position in shares of Malibu Boats during the third quarter valued at $33,000. Steward Partners Investment Advisory LLC lifted its stake in Malibu Boats by 30.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 606 shares of the company’s stock valued at $44,000 after buying an additional 143 shares during the period. Captrust Financial Advisors lifted its stake in Malibu Boats by 135.1% in the third quarter. Captrust Financial Advisors now owns 1,900 shares of the company’s stock valued at $133,000 after buying an additional 1,092 shares during the period. FourThought Financial LLC acquired a new position in Malibu Boats in the third quarter valued at about $146,000. Finally, Howe & Rusling Inc. lifted its stake in Malibu Boats by 4,900.0% in the second quarter. Howe & Rusling Inc. now owns 2,650 shares of the company’s stock valued at $194,000 after buying an additional 2,597 shares during the period. 93.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of MBUU stock opened at $65.13 on Wednesday. Malibu Boats has a 12 month low of $61.57 and a 12 month high of $93.00. The firm has a market cap of $1.36 billion, a PE ratio of 11.84 and a beta of 1.71. The stock has a 50 day moving average of $69.26 and a 200-day moving average of $72.23. The company has a quick ratio of 0.38, a current ratio of 1.04 and a debt-to-equity ratio of 0.11.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, November 4th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. Malibu Boats had a return on equity of 35.88% and a net margin of 11.58%. The company had revenue of $253.50 million during the quarter, compared to analyst estimates of $246.16 million. During the same period in the previous year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 40.1% compared to the same quarter last year. As a group, equities analysts predict that Malibu Boats will post 6.77 EPS for the current fiscal year.

About Malibu Boats

Malibu Boats, Inc is a holding company, which engages in the design, manufacture, and market of recreational powerboats. It offers performance sport boats, sterndrive, and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes and Cobalt brands. The firm operates through the following segments: Malibu, Saltwater Fishing and Cobalt.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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