Analysts Set Malibu Boats, Inc. (NASDAQ:MBUU) Price Target at $40.00

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $40.00.

MBUU has been the subject of several recent research reports. Truist Financial reiterated a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a research note on Monday, July 8th. DA Davidson restated a “buy” rating and issued a $45.00 price target on shares of Malibu Boats in a research report on Tuesday, September 10th. B. Riley reduced their price target on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, StockNews.com lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday, August 30th.

Malibu Boats Stock Down 3.0 %

MBUU opened at $40.59 on Friday. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $56.03. The business has a 50 day moving average of $37.98 and a 200-day moving average of $36.54. The stock has a market cap of $829.66 million, a price-to-earnings ratio of -15.20 and a beta of 1.38.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). The company had revenue of $158.70 million during the quarter, compared to analyst estimates of $157.54 million. Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The firm’s quarterly revenue was down 57.4% on a year-over-year basis. During the same quarter last year, the company posted $2.96 EPS. As a group, analysts expect that Malibu Boats will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of Malibu Boats by 37.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company’s stock worth $4,445,000 after purchasing an additional 31,026 shares during the period. nVerses Capital LLC bought a new stake in Malibu Boats during the 3rd quarter valued at $74,000. Creative Planning acquired a new position in Malibu Boats during the third quarter worth $223,000. SG Americas Securities LLC lifted its stake in shares of Malibu Boats by 31.6% in the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock valued at $202,000 after buying an additional 1,252 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Malibu Boats by 35.6% in the second quarter. Truist Financial Corp now owns 8,448 shares of the company’s stock valued at $296,000 after buying an additional 2,219 shares in the last quarter. Institutional investors 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.